From left: SBH Marine alternate director Tan Yok Jin, executive director Saw Leng Hean, deputy managing director Tan Yuak Kwang, deputy managing director Tan Yuak Ming, independent non-executive chairman Mohd Salim Dulatti, group managing director Tan Boo Nam, KAF Investment Bank CEO Rohaizad Ismail, deputy CEO Thariq Ahmad and WYNCORP Advisory managing director Wong Yoke Nyen at the launch of the IPO prospectus
KUALA LUMPUR: The public portion of SBH Marine Holdings Bhd's initial public offering (IPO) has been oversubscribed by 27.66 times.
SBH Marine is a frozen seafood producer in Malaysia, whose products are distributed in the European Union, the Middle East and Asia.
The company is scheduled to list on the ACE Market of Bursa Malaysia on April 8, 2024 and plans to raise up to RM39.6 million through the IPO.
In a statement today, Tricor Investor & Issuing House Services Sdn Bhd, on behalf of SBH Marine, said the public issue comprising 180 million new ordinary shares was made available for application, with 45 million shares for application by the Malaysian public.
"A total of 10,071 applications for 1.29 billion issue shares with a value of RM283.68 million were received from the Malaysian public, representing an oversubscription rate of 27.66 times,” it said.
The group said the institutional price was fixed at 22 sen per IPO share.
From the public issue of 180 million shares, 45 million issue shares are available for application by the Malaysian public and 36 million issue shares are eligible for the directors, employees and other persons who have contributed to the success of the group.
Meanwhile, 61 million issue shares and 50 million offer shares made available by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) and 38 million issue shares made available by way of private placement to selected investors have been fully placed out.
Allotment notices will be posted to successful applicants on April 4, 2024.
KAF Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent. - Bernama
