PETALING JAYA: iCents Group Holdings Bhd
’s initial public offering (IPO) has been oversubscribed by 2.30 times ahead of its listing on the ACE Market of Bursa Malaysia on July 17.
In a statement, the cleanroom and other facility services provider said its IPO entails a public issue of 112.50 million new ordinary shares at an issue price of RM0.24 per share, representing 22.50% of the enlarged issued share capital with RM27mil expected to be raised.
Additionally, there is an offer for sale of 30 million existing shares, representing 6% of the enlarged issued share capital, by way of private placement to selected investors.
“In respect of the 25 million issue shares allocated to the Malaysian public, iCents Group has received a total of 1,266 applicants for 82.39 million issue shares with a value of approximately RM19.77mil.”
For the Bumiputera portion, 385 applications for 9.75 million issue shares were received, which represents an under subscription rate of 0.22 times.
For the public portion, 881 applications were submitted for 72.65 million issue shares, which represents an oversubscription rate of 4.81 times.
“The 10.00 million issue shares made available for application by the eligible directors and employees, as well as persons who have contributed to the success of the group had been fully subscribed.”
The company added that the private placement of 15 million issue shares and 30 million offer shares to selected investors had been fully placed out.
“In addition, the private placement of 62.50 million issue shares to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, had also been fully placed out after applying the relevant clawback and reallocation provisions as set out in the prospectus of iCents Group dated June 25, 2025.
Upon listing, iCents Group will have a market capitalisation of RM120mil based on the enlarged issued share capital of 500 million shares and the IPO price of RM0.24 per share.
