MYMBN’S IPO oversubscribed by 30.77 times

KUALA LUMPUR: Bird’s nest processor Mymbn Bhd, which is en route to a listing on the ACE Market of Bursa Malaysia on July 25, 2023, saw its initial public offering oversubscribed by 30.77 times.

A total of 7,712 applications for 613.13 million shares were received from the Malaysian public, representing an overall oversubscription rate of 30.77 times.

For the Bumiputera portion, a total of 3,734 applications for 216.19 million new shares were received, representing an oversubscription rate of 21.40 times, while 3,978 applications for 396.93 million new shares were received under the other Malaysian public portion, representing an oversubscription rate of 40.13 times.

In addition, the 18.67 million shares made available for application by the eligible directors and employees as well as persons who have contributed to the success of MYMBN and its subsidiaries have been fully subscribed.

Mercury Securities Sdn Bhd as the sole placement agent for the IPO has confirmed that the 60.02 million new shares made available for application by way of private placement have been fully placed out to selected investors.