Sasbadi shares oversubscribed

  • Business
  • Thursday, 17 Jul 2014

KUALA LUMPUR: Education publisher Sasbadi Holdings Bhd’s initial public offering (IPO) for the Malaysian public of 216.836 million shares has been oversubscribed by 33.15 times.

“A total of 7,203 applications for 93.145 million shares were received under the bumiputra category, representing an oversubscription rate of 28.34 times,” Sasbadi said in a statement yesterday following the balloting ceremony of successful applications.

Sasbadi said notices of allotment for the shares would be mailed to the successful applicants on or before July 22.

The company, en route for listing on the Main Market of Bursa Malaysia on July 23, expected to raise RM25.23mil through the IPO exercise.

The IPO entails a public issue of 21.2 million new ordinary shares of 50 sen apiece as well as an offer for sale of up to 35.95 million existing shares. – Bernama

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