Public portion of Prolintas Infra Business Trust’s IPO oversubscribed by 3.59 times

PETALING JAYA: The public tranche of Prolintas Infra Business Trust’s (Prolintas Infra BT) initial public offering has been oversubscribed by 3.59 times.

Prolintas Infra BT will be listed on the Main Market of Bursa Malaysia on March 25, making it the country’s first listed Islamic business trust.

In a statement, Prolintas Infra BT said it received a total of 7,211 applications for 126,172,600 units, with a total value of RM119.9mil, versus 27,500,000 units made available for application by the Malaysian public.

For the Bumiputera portion, a total of 2,881 applications for 32,344,900 units were received, representing an oversubscription rate of 1.35 times, while 4,330 applications for 93,827,700 units were received under the other Malaysian public portion, representing an oversubscription rate of 5.82 times.

Meanwhile, the institutional offering, which comprises 422,949,000 units made available to institutional and selected investors, including Bumiputera investors approved by the Ministry of Investment, Trade and Industry, have been fully subscribed.