UMediC shares oversubscribed

Caption July 6 file pic shows (L-R) Non-Independent Non-Executive Director of UMedic Group Berhad Lau Chee Keong, Non-Independent Non Executive Chairman of UMedic Group Berhad Dato Ng Chai Eng, Chairman of Affin Hwang Investment Bank Berhad YM Tunku Afwida Binti Tunku A. Malek, Chief Executive Officer of Medic Group Berhad, Eric Lim Taw Seong at the launching of its initial public offering prospectus in conjunction with its listing on the ACE Market of Bursa Malaysia Securities Berhad at Kuala Lumpur. — FAIHAN GHANI/The Star

PETALING JAYA: ACE Market bound UMediC Group Bhd’s shares offered to the public were oversubscribed by 46.81 times while the shares offered via private placement was fully placed out.

In an exchange filing, UMediC stated the bumiputra portion was oversubscribed by 33.44 times, while the public portion of the offering was oversubscribed by 60.19 times.

A total of 18.7 million shares were offered to the public while 65.44 million shares were sold by way of private placement while another 13.1 million were offered to existing employees and eligible directors and business associates.

UMediC’s initial public offering comprised of public issue shares of 97.22 million at 32 sen per share. Based on its enlarged share capital of 373.91 million shares, its market capitalisation would be RM119.65mil.