Salcon main board share offering oversubscribed 29 times

KLSE main board candidate Salcon Bhd recorded an oversubscription rate of 28.8 times for its initial public offering (IPO) of 3.17 million shares, one of the highest take up rates registered so far this year. 

The water and wastewater engineering group has issued a total of 47.12 million shares of 50 sen each at RM1.20, of which 3.17 million were for public subscription, with 953,100 or 30% set aside for bumiputra investors.