KUALA LUMPUR: Enterprise information technology (IT) services provider, TechStore Bhd
’s initial public offering (IPO) has been oversubscribed by 96.66 times.
Techstore will debut on the ACE Market of Bursa Malaysia on Feb 18.
In a statement, Techstore said it received 23,333 applications for 2.44 billion issue shares worth RM488.29mil from the Malaysian public, representing an overall oversubscription rate of 96.66 times.
It received 11,890 applications for 1.1 billion issue shares under the Bumiputera portion, with an oversubscription rate of 86.83 times.
For the public portion, 11,443 applications were submitted for 1.34 billion issue shares, resulting in an oversubscription rate of 106.48 times.
Meanwhile, all 25 million issue shares allocated to eligible persons have been fully subscribed.
The placement agent, M&A Securities Sdn Bhd confirmed that all 62.5 million issue shares offered via private placement, including to MITI-approved Bumiputera investors, have been fully taken up.
It also confirmed a full subscription of 12.5 million issue shares and 25 million existing shares through private placement.
M & A Securities is the adviser, sponsor, underwriter and placement agent for this IPO.
