PETALING JAYA: Oxford Innotech Bhd
’s initial public offering (IPO) has been oversubscribed by 3.42 times ahead of its listing on the ACE Market of Bursa Malaysia on July 29.
The integrated engineering solutions provider said its IPO is expected to raise RM41.6mil in proceeds, involving a public issue of 143.5 million new ordinary shares at an issue price of RM0.29 per share, representing 20.2% of the enlarged share capital.
In addition, 50 million existing shares, or 7% of the enlarged share capital, were offered via private placement to selected investors and bumiputra investors approved by the Investment, Trade and Industry Ministry.
