KUALA LUMPUR: Automation machinery solutions specialist, ASM Automation Group Bhd announced that the public portion of its initial public offering (IPO) has been oversubscribed by 1.27 times.
In a statement, ASM said it received a total of 2,427 applications for60.77 million issue shares from the Malaysian public, representing an overall oversubscription rate of 1.27 times.
This includes 1,056 applications for 22.37 million shares under the Bumiputera public portion, which was oversubscribed by 0.67 times, and 1,371 applications for 38.40 million shares under the other Malaysian public portion, which saw an oversubscription of 1.87 times.
Of that total, 66.85 million issue shares allocated to Bumiputera investors approved by MITI were fully taken up following the application of clawback and reallocation provisions.
The 10.70 million shares under the Pink Form allocation for eligible persons were also fully subscribed. Additionally, all 24.06 million issue shares and 53.48 million offer shares offered via private placement to selected investors were fully taken up.
“We are deeply grateful for the support from our investors. The encouraging response to our IPO affirms confidence in ASM’s expertise and growth potential in the automation machinery space.
“The funds raised will accelerate our expansion plans, including the establishment of a new factory, purchase of advanced machinery, and intensifying our D&D capabilities to better serve a growing base of domestic and international clients,” managing director Chan Kok Heng said.
ASM is scheduled to be listed on the ACE Market of Bursa Malaysia on July 2, 2025.
