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.

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