Aneka Jaringan's public offer oversubscribed by 12.68 times


Piling and foundation specialist, Aneka Jaringan Holdings Bhd's offer of 26.90 million shares to the public was oversubscribed by 12.68 times.

KUALA LUMPUR: Piling and foundation specialist, Aneka Jaringan Holdings Bhd's offer of 26.90 million shares to the public was oversubscribed by 12.68 times.

Alliance Investment Bank Bhd said on Friday there were 9,094 applications for 368.07 million shares from the public for the shares.

It said 13.45 million shares were set aside for under the Bumiputera category – or 50% of the shares available for public subscription -- while the remaining 13.45 million shares were allotted under the public category.

Under the Bumiputera category, there were 4,436 applications for 140.95 million shares or an oversubscription rate of 9.48 times.

Under the public category, there were 4,658 applications for 227.12 million or an oversubscription rate of 15.88 times.

Alliance Investment Bank said that 45.72 million shares were placed out to selected investors.

As for the 13.45 million shares made available for application by the eligible directors, employees and persons, a total of one million shares were clawed back and made available by way of private placement to selected investors.

The 53.81 million shares made available by way of private placement to approved Bumiputera investors had also been completed.

To recap, the initial public offering (IPO) exercise involved the issuance of 139.89 million new shares at 33 sen apiece.

Of the RM46.16mil in total proceeds, RM17.30mil will be used to purchase rotary drilling rigs and crawler crane. The rest will be for repayment of borrowings (RM24.26mil) and to defray IPO expenses (RM4.60mil).

Aneka Jaringan will be listed on the ACE Market on Oct 20.

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Aneka Jaringan , IPO , ACE Market , piling

   

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