KUALA LUMPUR: Carlo Rino Group Bhd
’s initial public offering was oversubscribed by 18.43 times ahead of its listing transfer from the LEAP Market to the ACE Market of Bursa Malaysia Securities Bhd.
Carlo Rino, in a statement, said a total of 13,395 applications for 949.87 million issue shares were received from the Malaysian public, resulting in an overall oversubscription rate of 18.43 times.
Meanwhile, a total of 6,675 applications for 552.41 million issue shares were received for the other Malaysian public portion, representing an oversubscription rate of 21.60 times.
Additionally, the 800,000 issues made available for application by the independent non-executive directors have been fully subscribed.
TA Securities Holdings Bhd, as the principal adviser, sponsor, sole underwriter and placement agent confirmed that 122.18 million issue shares made available by way of private placement to Bumiputera investors as approved by the MITI, have been fully subscribed.
