KUALA LUMPUR: Metro Healthcare Bhd
's initial public offering (IPO), which involved 156.63 million shares offered to the Malaysian public at an issue price of 25 sen, has been oversubscribed 38.60 times.
The company announced that of the offered shares, 24.47 million were allocated to the Malaysian public, 9.79 million to eligible directors and employees, and 122.36 million through private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
"A total of 12,298 applications for 969.08 million new shares were received from the Malaysian public, resulting in an overall oversubscription rate of 38.60 times," the company said in a statement today.
For the Bumiputera portion, it said 5,434 applications were received for 349.74 million new shares, leading to an oversubscription rate of 27.58 times.
Meanwhile, for the other Malaysian public portion, 6,864 applications for 619.34 million new shares were submitted, representing an oversubscription rate of 49.61 times, it added.
MIDF Amanah Investment Bank Bhd served as the principal adviser, sponsor, underwriter and placement agent for this IPO.
Metro Healthcare, an obstetrics and gynaecology healthcare service provider, is set to transfer its listing from the LEAP Market to the ACE Market on Nov 15, 2024. - Bernama
