Pawnshop operator Pappajack's IPO oversubscribed 22 times

Pappajack Bhd executive director Law Book Ching (Left) and Pappajack managing director and CEO Lim Boon Hua (right).

KUALA LUMPUR: Pawnbroking company Pappajack Bhd, en route for a listing on the ACE Market of Bursa Malaysia, has garnered an overall oversubscription rate of 21.73 times for 33.4 million public issue shares made available for application by the Malaysian public.

A total of 7,125 applications for 759 million public issue shares with a value of RM227.75 million were received from the Malaysian public.