The public portion of software developer UBS Corp Bhd’s initial public offering has been oversubscribed 12.5 times.
A total of 2,914 applications for 27,047,800 shares was received for the two million 10-sen shares that were made available to the public at 48 sen apiece. “The oversubscription is indeed encouraging given the current market sentiment,’’ UBS chairman Cheah Kean Soon said at the share balloting in Kuala Lumpur yesterday.
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