KUALA LUMPUR: The public portion of Sarawak-based telecommunications company Reach Ten Holdings Bhd
’s initial public offering (IPO) has been oversubscribed by 1.85 times, ahead of its scheduled listing on the Main Market of Bursa Malaysia on May 2, 2025.
The company said in a statement that it received a total of 2,706 applications for 142.65 million new shares, exceeding the 50 million shares allocated for public subscription.
“The bumiputra portion of the shares was oversubscribed by 1.11 times, with 945 applications for 52.79 million shares. The non-bumiputra portion saw 1,761 applications for 89.86 million shares, representing an oversubscription rate of 2.59 times,” Reach Ten said.
Under the listing exercise, Reach Ten aims to raise RM104mil from the public issue of 200 million new shares at an issue price of RM0.52 per share. —Bernama
