Jati Tinggi's IPO shares oversubscribed

KUALA LUMPUR: Jati Tinggi Group Bhd, en route to a listing on the ACE Market of Bursa Malaysia on Dec 20, has recorded an oversubscription rate of 16.11 times for the public portion of its initial public offering (IPO).

Jati Tinggi, one of the players in the field of infrastructure utilities engineering industry, received a total of 5,195 applications for 335.37 million public issue shares worth RM90.55mil from the public, representing an overall oversubscription rate of 16.11 times.