Agmo’s IPO oversubscribed by 120 times

Agmo Holdings Bhd chief executive officer Tan Aik Keong (left) with Kenanga Investment Bank Bhd group investment banking and Islamic banking executive director and head Datuk Roslan Tik at the underwriting agreement signing ceremony of Agmo Holdings Bhd on 28 June.

PETALING JAYA: Agmo Holdings Bhd’s initial public offering (IPO) received an overwhelming response from investors, with its public portion oversubscribed by 120.15 times.

With an IPO price of 26 sen per share, the application for the public portion amounted to nearly RM512mil.

“A total of 5,309 applications for 585.39 million new shares were received under the bumiputra category, representing an oversubscription rate of 71.05 times.

“Meanwhile, 8,968 applications for 1.38 billion new shares were received under the public category, representing an oversubscription rate of 169.25 times,” it said in a statement.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Bursa , IPO , Ace Market , Agmo Holdings , shares , over subscribed ,


Next In Business News

Wall Street opens lower as rally in growth stocks falters
Axiata’s tower arm edotco weighing US$700mil financing, sources say
MYAirline to operate as LCC, not ULCC
MUI sells 5.57% stake in PMC for RM6.45mil
Wiki Impact report: Bursa top 20 companies donated RM159.69mil in cash in 2021
FMM: Implementation of CPTPP is timely for Malaysian businesses to recover
Ringgit strengthens against US dollar at the close
Ancom Nylex completes acquisition of 25% stake in Ancom-Chemquest Terminals
RHB Bank Cambodia aims to become SME bank of choice by 2024
Bursa Malaysia ends higher for third consecutive day on Wall St rally

Others Also Read