KUALA LUMPUR: Mechanical and civil engineering services provider Enproserve Group Bhd
saw strong demand for its ACE Market initial public offering (IPO), with the public portion oversubscribed by 0.43 times.
In a statement, Enproserve said it received 1,414 applications for 74.9 million public issue shares from the Malaysian public, valued at around RM18mil.
This exceeded the 52.5 million shares offered to the public via balloting, leading to an oversubscription rate of 0.43 times.
Enproserve said the strong investor demand across all subscription tranches reflects the group’s solid value proposition and strategic position within a key industry segment.
“The strong reception to our IPO validates investor confidence in Enproserve’s resilient business model and strategic position within the vital oil and gas and petrochemical industries.
“With enhanced capabilities, we are primed to accelerate growth and further expand our market share,” group managing director Azman Yusof said.
