Southern Cable public portion of 40m shares oversubscribed 10.5 times

Southern Cable managing director Tung Eng Hai said the oversubscription from the Malaysian public indicated the strong interest in the group and is a vote of confidence to our business model and prospects as a proxy to the essential utilities sector in the country.

KUALA LUMPUR: Cable and wire manufacturer Southern Cable Group Bhd’s offer of 40 million new shares to the public under its floatation exercise was oversubscribed by 10.5 times.

Southern Cable said on Thursday it received 10,308 applications for 459 million shares with a total value of RM156.1mil.