PETALING JAYA: 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, slated 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 RM1.61bil from the public, representing an overall oversubscription rate of 59.96 times.
It was noted that for the bumiputra 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.
Alliance Islamic Bank is the principal adviser, sponsor, sole underwriter and placement agent for the IPO.
