TSA Group’s IPO shares oversubscribed

KUALA LUMPUR: TSA Group Bhd, which is slated for a listing on the ACE-Market of Bursa Malaysia on Feb 2, has seen its initial public offering (IPO) oversubscribed by 8.62 times.

In a statement, it said a total of 4,304 applications for 148.78 million shares with a value of RM81.83mil were received from the Malaysian public, which represents an overall oversubscription rate of 8.62 times.

“For the Bumiputera portion, a total of 2,329 applications for 67.69 million shares were received, which represents an oversubscription rate of 7.75 times,” it said.

For the public portion, a total of 1,975 applications for 81.09 million shares were received, representing an oversubscription rate of 9.49 times.

Meanwhile, 15.46 million shares made available for application by the eligible persons have also been fully subscribed.

Further, AmInvestment Bank Bhd, the placement agent has confirmed that the 203.2 million public issue/offer shares made available for application by way of private placement have been fully placed out.

AmInvestment is the principal adviser, sponsor, placement agent and underwriter for this IPO.