KUALA LUMPUR: Supreme Consolidated Resources Bhd
’s initial public offering (IPO) has been oversubscribed by 349.42 times, ahead of its listing on the ACE Market of Bursa Malaysia.
The frozen food distributor said a total of 23,955 applications for 3.01 billion new shares were received from the Malaysian public, resulting in an overall oversubscription rate of 349.42 times.
It noted that a total of 11,984 applications for 1.36 billion new shares were received for the Bumiputera portion, representing an oversubscription rate of 317.38 times.
Meanwhile, a total of 11,971 applications were received for 1.64 billion new shares in the Malaysian public portion, reflecting an oversubscription rate of 381.46 times.
In addition, the 7.64 million new shares offered to eligible directors, key senior management, employees, and business associates of Supreme Consolidated and its subsidiaries have been fully subscribed.
Kenanga Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent.
