OB Holdings oversubscribed by 109.47 times

PETALING JAYA: OB Holdings Bhd’s initial public offering (IPO), has been oversubscribed by 109.47 times, ahead of its listing on the ACE Market of Bursa Malaysia.

In a statement, the food and beverage and dietary supplements manufacturing services provider said its IPO entailed a public issue of 120 million new ordinary shares at an issue price of 24 sen per share.

This accounts for 30.64% of the enlarged issued share capital, with RM28.80mil expected to be raised from the public issueIt received 22,753 applicants for a total of 2,163.19 million issue shares, valued at RM519.16mil for the 19.58 million issue shares allocated to the public, representing an overall oversubscription rate of 109.47 times.