KUALA LUMPUR: ACE Market-bound MSB Global Group Bhd
’s initial public offering (IPO) of 30.50 million shares allocated for the Malaysian public has been oversubscribed by 6.46 times.
The company said a total of 4,849 applications for 227.41 million issue shares worth RM45.48 million were received from the Malaysian public, representing an overall oversubscription rate of 6.46 times.
"For the Bumiputera portion, 2,129 applications for 60.74 million issue shares were received, representing an overall oversubscription rate of 2.98 times.
"As for the non-Bumiputera portion, a total of 2,720 applications for 166.67 million issue shares were received, which represents an oversubscription rate of 9.93 times," said the exclusive distributor of GSP-branded automotive parts and components in a statement.
MSB Global also said that the 6.10 million issue shares made available for application by the eligible persons have been fully subscribed.
Meanwhile, the placement agent has confirmed that the 20.15 million issue shares and offer for sale of 74 million existing shares by way of private placement to selected investors were fully subscribed.
It has also confirmed that 76.25 million issue shares by way of private placement to Bumiputera investors, approved by the Ministry of Investment, Trade and Industry have been fully taken up.
"Notices of allotment would be posted to all successful applicants by April 14, 2025," it said.
M & A Securities Sdn Bhd is the principal adviser, sponsor, underwriter, and placement agent for the IPO. - Bernama
