Oriental Kopi IPO oversubscribed by 59.96 times


KUALA LUMPUR: Oriental Kopi Holdings Bhd’s initial public offering (IPO) was oversubscribed by 59.96 times ahead of its upcoming listing on the ACE Market of Bursa Malaysia, scheduled for Jan 23.

The cafe operator, in a statement, said it received a total of 66,041 applications for 3.65 billion issue shares valued at RM1.609bil from the Malaysian public, representing an overall oversubscription rate of 59.96 times.

It was noted that for the Bumiputera portion, a total of 10,156 applications for 695.88 million issue shares were received, resulting in an oversubscription rate of 22.20 times.

For the public portion, a total of 55,885 applications for 2.96 billion issue shares were received, resulting in an oversubscription rate of 97.72 times.

Meanwhile, 20 million issue shares made available for application by eligible persons have also been fully subscribed.

The placement agent, Alliance Islamic Bank Bhd, has confirmed that 250 million issue shares, offered through private placement to Bumiputera investors approved by MITI, have been fully placed.

In addition, the placement agent has confirmed that the 88.1 million issue shares, offered through private placement to selected investors, have been fully placed.

Alliance Islamic Bank is the principal adviser, sponsor, sole underwriter and placement agent for this IPO.

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Oriental Kopi , IPO , ACE Market , Bursa Malaysia

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