KUALA LUMPUR: 99 Speed Mart Retail Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 3.04 times.
In a statement, the company said 49,354 applications for 678.58 million IPO shares were received, resulting in an overall oversubscription rate of 3.04 times.
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The Bumiputera public portion of shares was oversubscribed by 0.54 times after a total of 3,731 applications for 45.37 million new shares were received. It said the balance had been clawed back and re-allocated to the non-Bumiputera investor.
For the non-Bumiputera portion, a total of 45,623 applications for 633.2 million IPO shares were received, representing an oversubscription rate of 6.54 times.
Meanwhile, the 42 million IPO shares available for application by eligible persons were fully subscribed.
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The group said the institutional price has been fixed at RM1.65 per IPO share. Accordingly, the final retail price has also been fixed at RM1.65 per IPO share.
As the final retail price equals to the retail price of RM1.65 per issue share, there will be no refund to be made to the successful applicant under the retail offering.
For the institutional offering, the CIMB Investment Bank Bhd has confirmed that the 1.21 billion IPO shares offered to the Malaysian institutional and selected investors (including Bumiputera investors approved by the MITI) have been fully placed out.
CIMB Investment Bank is the principal adviser, sole bookrunner and sole managing underwriter, as well as joint underwriter for this IPO, while Affin Hwang Investment Bank Bhd and RHB Investment Bank Bhd are the other joint underwriters.
99 Speed Mart plans to list on the Main Market of Bursa Malaysia Securities on Sept 9, 2024.
