Seng Fong’s IPO oversubscribed by 3.09 times

Seng Fong managing director Er Hock Lai

KUALA LUMPUR: Rubber processor Seng Fong Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 3.09 times.

In a statement, the company said a total of 3,968 applications for 106.04 million IPO shares with a value of RM79.53mil were received from the Malaysian public, which represented an overall oversubscription rate of 3.09 times.