Orgabio's Ean Yong Tin Sin with some of the companies products
KUALA LUMPUR: The public portion of instant beverage premix manufacturer Orgabio Holdings Bhd
's initial public offering (IPO) has been oversubscribed by 50.86 times.
In a statement, the company said there were a total of 7,562 applications seeking 642.7 million new shares for the 12.39 million new shares made available for public subscription.
The Bumiputra public portion of shares was oversubscribed by 45.52 times, after a total of 4,674 applications for 288.3 million shares were received.
Meanwhile, 2,888 applications for the remaining public portion amounting to 354.4 million shares were received, representing an oversubscription rate of 56.19 times.
The 6.2 million new shares offered to its eligible directors and employees as well as persons who contributed to the company's success under pink form allocations were also fully subscribed.
In addition, the placement agent has confirmed that all private placement to selected Bumiputera investors and selected investors have been fully placed out.
"We are grateful to see strong support from retail investors in our shares.
"The support garnered is an encouraging sign as Orgabio embarks on its next stage of growth as a public-listed company,” said Orgabio executive deputy chairman Datuk Ean Yong Tin Sin.
