PETALING JAYA: ACE Market-bound Verdant Solar Holdings Bhd
says the 40.88 million shares it offered to the Malaysian public for its upcoming initial public offering (IPO) have been oversubscribed by 39.6 times.
In a statement yesterday, Verdant said a total of 16,737 applications for 1.66 billion new IPO shares were received from the Malaysian public.
“Specifically, a total of 7,578 applications for 709.78 million new shares were received for the bumiputra portion, representing an oversubscription rate of 33.72 times.
“Meanwhile, a total of 9,159 applications for 949.81 million new shares were received for the other Malaysian public portion, representing an oversubscription rate of 45.47 times.”
In addition, the 25 million shares available for application by the eligible directors and employees had been fully subscribed.
The IPO shares were priced at 31 sen apiece. Verdant plans to raise RM44.02mil through its IPO, slated for Oct 22.
