PETALING JAYA: ACE Market-bound RichTech Digital Bhd’s initial public offering (IPO) has been oversubscribed by 245.42 times.
The electronic reloads distributor and bill payment service provider said in a statement that it received 24,237 applications for 2.49 billion shares worth RM623.63mil from the public, resulting in an oversubscription rate of 245.42 times.The bumiputra portion received 12,601 applications for 1.06 billion shares, with an oversubscription rate of 208.57 times.The public portion saw 11,636 applications for 1.43 billion shares, resulting in an oversubscription rate of 282.28 times.
Meanwhile, all 1.55 billion issue shares available for application by eligible persons have been fully subscribed.
KAF Investment is the principal adviser, sponsor, underwriter and placement agent for the IPO.
RichTech Digital is slated to make its debut on Feb 17.
