KUALA LUMPUR: Sarawak-based technology solutions provider, Insights Analytics Bhd
’s initial public offering (IPO) for the public portion has been oversubscribed by 53.62 times.
In a statement, it said a total of 14,397 applications for 1.50 billion new shares worth RM540.72mil were received from the Malaysian public, compared with 27.50 million new shares made available for public subscription.
The Bumiputera public portion was oversubscribed 44.05 times, with 7,161 applications for 619.38 million new shares received.
For the non-Bumiputera public portion, a total of 7,236 applications for 882.61 million new shares were received, which represents an oversubscription rate of 63.19 times.
Meanwhile, the 11.0 million new shares allocated to eligible directors, employees, and individuals who have contributed to the success of Insights Analytics Group under the pink form allocation were also fully subscribed.
In addition, its placement agent, M & A Securities Sdn Bhd, confirmed that the 82.50 million shares offered via private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) and selected investors have been fully placed out.
Managing director Ts. Frank Wee said the company was deeply encouraged by the overwhelming response to its IPO, which achieved an oversubscription rate of 53.62 times within just five working days.
“With the IPO funds, we will accelerate our business expansion and focus on creating new IT solutions while enhancing the performance of our existing IT solution services. This will enable us to play a key role in advancing Malaysia’s digital transformation in water resource management.
“We are committed to contributing meaningfully to Sarawak’s smart city initiatives and positioning ourselves as a regional leader in smart utility analytics,” he added.
Under the listing exercise, Insights Analytics aims to raise RM43.56mil from its public issue of 121.0 million new shares at an issue price of RM0.36 per share.
The listing also includes an offer for sale of 27.50 million existing shares to Bumiputera investors approved by the MITI by way of private placement.
Based on the enlarged share capital of 550.0 million shares, Insights Analytics is expected to have a market capitalisation of RM198mil upon listing.
Insights Analytics is slated to list on the ACE Market on Oct 27, 2025.
M & A is the adviser, sponsor, underwriter and placement agent for the IPO exercise.
