KUALA LUMPUR: Oppstar Bhd, en route to list on the ACE Market of Bursa Malaysia on March 15, said its initial public offering (IPO) was oversubscribed by 77.05 times by the Malaysian public.
The integrated circuit (IC) design provider, in a statement, said the 31.81 million IPO Shares made available for application by the Malaysian public received a total of 39,103 applications for 2.48 billion shares with a value of RM1.56bil, representing an overall oversubscription rate of 77.05 times.
A total of 17,257 applications for 749.25 million IPO shares were received under the Bumiputera category, representing an oversubscription rate of 46.11 times, while 21,846 applications for 1.73 billion IPO shares were received under the other Malaysian public category, representing an oversubscription rate of 108.00 times
Oppstar noted that the 22.26 million shares for application by eligible persons were also fully subscribed.
In addition, Affin Hwang Investment Bank Bhd, as the principal adviser, sponsor, sole placement agent and sole underwriter has confirmed that the 31.87 million IPO shares made available for application by way of private placement to selected investors as well as 79.52 million IPO shares by way of private placement to Bumiputera investors approved by the MITI were fully placed out.