PETALING JAYA: TechStore Bhd
’s initial public offering (IPO) has been oversubscribed by nearly 100 times, as retail investors registered for 2.44 billion shares of the 25 million that had been made available.
The bumiputra portion was oversubscribed by 87 times, while the remaining public portion was oversubscribed by 106 times.
Shares of the information technology services provider that were allocated to eligible persons were also fully taken up, while shares for select investors through a private placement were also fully subscribed, the issuing house said.
TechStore, slated for a listing on the ACE Market on Feb 18, is aiming to raise RM30mil from the issuance of the 125 million new shares and 25 million existing shares at 20 sen each, giving it a market capitalisation of RM100mil.
