Leong Hup executive director and Group CEO Tan Sri Francis Lau Tuang Nguang (6th form right) and executive chairman Lau Chia Nguang (7th from right) with the company's directors, senior management and bankers at Leong Hup's prospectus launching ceremony on Apr 25, 2019
KUALA LUMPUR: Leong Hup International Bhd
's offer of 73 million shares for the retail portion of its initial public offering (IPO) has been oversubscribed by 3.64 times.
In a filing with the stock exchange, the group said a total of 14,841 applications for 339.07 million issue shares valued at RM372.98mil were received from the Malaysian public.
The Bumiputera and non-Bumiputera categories were oversubscribed by 0.39 and 6.9 times respectively while the shares set aside for eligible persons were fully subscribed.
Meanwhile the institutional offering of 839.5 million shares has been "heavily subscribed" by Malaysian and foreign investors, said the filing.
"LHI is very pleased with the overwhelming interest across both the institutional and retail offering, validating the decision to list on Bursa Malaysia Securities Bhd," it said.
The notices of allotment for the IPO shares will be posted to all successful applicants by May 15, 2019.
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