Master Tec’s IPO shares oversubscribed

(From left) Master Tec Group Bhd director Hooi Lian Jye, director Yee Ying Sung, chief executive officer Tee Kok Hwa, managing director Datuk Lau Kim San, SJ Securities Sdn Bhd managing director and chief executive officer Datuk Ahmad Azman, capital markets adviser Datuk Wan Asmadi, corporate finance head David Chan Tze Kwang and operations executive director Annie Lee Mui Mui at the prospectus launch of Master Tec Group Bhd.

PETALING JAYA: ACE Market-bound power cable manufacturer Master TEC Group Bhd’s 51 million initial public offering (IPO) shares available for public application have been oversubscribed by 7.11 times.

The Melaka-based company said a total of 7,276 applications for 413.65 million shares worth RM161.32mil were received from the Malaysian public for the IPO shares.