Ecomate’s IPO oversubscribed by 98.94 times

PETALING JAYA: Ecomate Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 98.94 times, ahead of the ready-to-assemble furniture maker’s listing on the ACE Market.

“Ecomate has received a total of 18,677 applications for 1,748,955,700 shares with a value of RM577,155,381 from the Malaysian public for the 17,500,000 shares, representing an oversubscription rate of 98.94 times,” it said in a statement yesterday.