KUALA LUMPUR: ACE Market-bound Lim Seong Hai Capital Bhd
's (LSH Capital) initial public offering (IPO) of 16.77 million shares allocated for the Malaysian public has been oversubscribed by 11.88 times.
In a filing with Bursa Malaysia, the construction and engineering firm said 7,978 applications for 215.91 million shares were received from the Malaysian public.
It said 3,777 applications for 83.34 million shares were received for the Bumiputera portion, representing an oversubscription rate of 8.94 times.
Meanwhile, 4,201 applications for 132.57 million shares were received for the non-Bumiputera portion, equivalent to an oversubscription rate of 14.81 times.
Additionally, all 12.58 million shares made available for application by the eligible persons have been fully subscribed.
AmInvestment Bank Bhd, the principal adviser, sponsor, sole underwriter and sole placement agent, has confirmed that 161.66 million shares made available for private placement to institutional and selected investors, including identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry, have been fully taken up.
The notice of allotment will be mailed to all successful applicants by March 19, 2025. - Bernama
