PETALING JAYA: ACE Market candidate ES Sunlogy Bhd’s initial public offering (IPO) has been oversubscribed by 60.13 times.
The mechanical and electrical engineering services and renewable energy solutions provider said it received 23,723 applications for 2.14 billion issue shares, valued at RM641.8mil, from the public.
A total of 10,627 applications for 699.3 million issue shares were received for the bumiputra portion, reflecting an oversubscription rate of 38.96 times.
For the public portion, a total of 13,096 applications for 1.44 billion issue shares were received, representing an oversubscription rate of 81.29 times.
A total of 17.5 million issue shares available for application by eligible persons have also been fully subscribed.
M & A Securities is the adviser, sponsor, underwriter and placement agent for the IPO.
