Sunview IPO oversubscribed by 63.19 times

Sunview Group Bhd chief executive officer Ong Hang Ping (left) and Alliance Islamic Bank Bhd chief executive officer Rizal IL-Ehzan Fadil Azim at the underwriting agreement signing ceremony in conjunction with Sunview Group Bhd’s initial public offering exercise and listing on the ACE Market of Bursa Malaysia.

PETALING JAYA: ACE Market-bound Sunview Group Bhd’s public portion of its initial public offering (IPO) has been oversubscribed by 63.19 times.

The end-to-end solar photovoltaic system construction player is scheduled to be listed on the ACE Market of Bursa Malaysia on Oct 17, 2022, where it aims to raise RM34.22mil from its IPO at an issue price of 29 sen apiece.

Malaysian Issuing House Sdn Bhd said, on behalf of Sunview, that the company had received 13,240 applications for 1.51 billion new shares from the Malaysian public, representing an oversubscription rate of 63.19 times. — Bernama

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