Fuelling growth through strategic listing: (From left) LSH Capital group managing director Lim Pak Lian, non-executive chairman Tan Sri Lim Keng Cheng, executive vice chairman Datuk Lim Keng Guan and managing director for machinery, hardware and tools division Lim Keng Hun during the Lim Seong Hai Capital Bhd prospectus launch at Kuala Lumpur.
KUALA LUMPUR: 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, ahead of its ACE Market listing.
In a filing with Bursa Malaysia, the construction and engineering firm said it received 7,978 applications for 215.91 million shares from the Malaysian public.
It said 3,777 applications for 83.34 million shares were for the bumiputra portion, representing an oversubscription rate of 8.94 times.
All 161.66 million shares made available for private placement to institutional and selected investors, including identified bumiputra investors approved by the Investment, Trade and Industry Ministry, have been fully taken up.
Separately, the company said it had signed a 20-year concession agreement to operate and maintain the Kuala Lumpur Tower, The concession agreement will commence on April 1, 2025. — Agency
