Public portion of Elridge’s IPO oversubscribed

PETALING JAYA: The public portion of Elridge Energy Holdings Bhd’s (EEHB) initial public offering (IPO) has been oversubscribed by 28.78 times.

In a filing with Bursa Malaysia, EEHB said a total of 25,190 applications for 2.38 billion issue shares worth RM690.88mil were received from the Malaysian public for the 80 million issue shares made available for application by the public.For the bumiputra portion, a total of 12,982 applications for 946.98 million issue shares were received, which represents an oversubscription rate of 22.67 times.