TT Vision's IPO oversubscribed by 89.15 time

KUALA LUMPUR: TT Vision Holdings Bhd said the public portion of its initial public offering (IPO) has been oversubscribed by 89.15 times.

It received 21,796 applications for 2.1 billion new shares with a value of RM717.25mil from the Malaysian public, representing an overall oversubscription rate of 89.15 times.

For the Bumiputera portion, a total of 11,224 applications for 774.54 million new shares were received, which represents an oversubscription rate of 65.20 times.

For the public portion, a total of 10,572 applications for 1.33 billion new shares were received, representing an oversubscription rate of 113.10 times.

Meanwhile, 18.1 million new shares made available for application by eligible directors, employees and persons who have contributed to the TT Vision group have also been fully subscribed.

Further, the sole placement agent, KAF Investment Bank Bhd has confirmed that the 53.5 million shares made available for application by way of private placement have been fully placed out to selected investors.

TT Vision is principally involved in the development and manufacturing of machine vision equipment and provision of related products and services.

The company is slated for a listing on the ACE Market on Jan 18, 2023.

KAF Investment is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO exercise.