PETALING JAYA: The public portion of Express Powerr Solutions (M) Bhd
’s initial public offering (IPO) received positive interest from investors with an oversubscription rate of 13.55 times.
The generator rental services provider, en route to a listing on the ACE Market of Bursa Malaysia, announced it had received 8,338 applications for 679.95 million shares.
From this tally, the bumiputra public portion received a total of 4,097 applications for 255.13 million shares, which represented an oversubscription rate of 9.92 times.
The remaining public portion received 4,241 applications for 424.82 million shares, for an oversubscription rate of 17.18 times.
The company also shared that the 18.69 million shares made available for application by eligible persons had been fully subscribed, while the 63.19 million shares for private placement to selected investors had been fully placed out.
