Alam Maritim IPO 8.68 times oversubscribed

  • Business
  • Thursday, 13 Jul 2006

KUALA LUMPUR: Alam Maritim Resources Bhd’s initial public offering (IPO) of 8.12 million shares for the Malaysian public has been oversubscribed by 8.68 times. 

In a statement yesterday, Alam Maritim said it received a total of 18,039 applications for 78.59 million shares for the 8.12 million shares available for subscription. 

The bumiputra portion received a total of 9,208 applications for 23.45 million shares, representing an over-subscription rate of 8.63 times. 

Alam Maritim, en route to a listing on the main board, is involved in the provision of marine support services in oil and gas exploration, as well as the production sector. 

Shares of Alam Maritim have been classified as syariah-compliant by the Securities Commission's Syariah Advisory Council. 

Alam Maritim's IPO involves issuance of 29.22 million shares and an offer for sale of 8.65 million existing 50 sen shares at RM1.65 apiece. Of the amount, 9.74 million shares are offered to eligible directors, employees and persons who have contributed to the company. 

A total of 20.02 million issue shares made available for application by private placement to identified local and foreign investors were also fully placed out, it said. – Bernama

For latest Bursa Malaysia indices, charts and other information click here


Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

US says Vietnam's currency actions 'unreasonable' but holds off on tariffs
Top Glove reports Covid-19 outbreak at four factories
AmBank provides 6-month moratorium for flood victims
Principal Asset launches Next-G connectivity fund
CPO futures to trend lower on profit taking next week
WhatsApp to delay launch of update business features
US National Rifle Association files for bankruptcy
Oil drops over 2% on China lockdowns, U.S. stimulus concerns
Dollar finishes week stronger as US data hurts risk appetite
GLOBAL MARKETS-Data, lockdowns weigh on stocks

Stories You'll Enjoy