Cosmos Technology’s IPO oversubscribed by 58.01 times

KUALA LUMPUR: Cosmos Technology International Bhd’s initial public offering (IPO) received a positive response from investors, with its public portion oversubscribed by 58.01 times.

A total of 8,328 applications for 756.74 million new shares with a value of RM264.86mil were received from the Malaysian public, representing an overall oversubscription rate of 58.01 times, it said in a statement.

For the Bumiputera portion, a total of 4,350 applications for 286.33 million new shares were received, which represents an oversubscription rate of 43.65 times.

For the public portion, a total of 3,978 applications for 470.41 million new shares were received, which represents an oversubscription rate of 72.36 times.

Meanwhile, 7.88 million new shares made available for application by the eligible directors, employees and persons who have contributed to the success of the group have also been fully subscribed.

Further, the placement agent has confirmed that a total of 43.42 million shares were made available for application by way of a private placement to selected investors and selected Bumiputera investors approved by MITI have been fully placed out.

Cosmos is scheduled to be listed on Bursa Malaysia's ACE Market on Oct 6.

Mercury Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for this IPO.