KUALA LUMPUR: PSP Energy Bhd
’s public portion of the initial public offering (IPO) has been oversubscribed by 5.87 times ahead of its listing on Bursa Malaysia’s ACE Market on Dec 4, 2025.
The integrated fuel and lubricant trader and distributor company said a total of 6,670 applications seeking 367.03 million new shares were received from the Malaysian public for the 53.44 million new shares made available for public subscription.
"The bumiputera public portion of shares was oversubscribed by 3.21 times, after a total of 3,241 applications for 112.57 million new shares were received.
"For the non-bumiputera public portion, a total of 3,429 applications for 254.46 million new shares were received, which represents an oversubscription rate of 8.52 times,” it said in a statement today.
Meanwhile, the company said the 48.10 million new shares for its eligible directors, employees and persons who have contributed to the success of the group under the pink form allocations have also been fully subscribed.
In addition, PSP Energy said its joint placement agents have confirmed that 187.08 million new and existing shares made available for application by way of private placement to bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) and selected investors have been fully placed out.
Group managing director Ong Chee Seng said that with the IPO funds in place, the company is on track to grow and enhance its distribution of fuel products segment from increased bunkering and road tankers capacities, reduce borrowings and finance its purchase of a larger volume of fuel inventory to further drive and support the next phase of growth.
Under the listing exercise, PSP Energy will raise RM34.20 million from its public issue of 213.80 million new shares at an issue price of 16 sen per share.
It said the listing also includes an offer for sale of 74.82 million existing shares by way of private placement to bumiputera investors approved by the MITI.
"Based on the enlarged share capital of 1.07 billion shares, the total market capitalisation of PSP Energy upon its listing would be RM171.0 million,” it said.
Mercury Securities Sdn Bhd is the principal adviser, sponsor, underwriter and joint placement agent, while AmInvestment Bank Bhd is a joint placement agent for the IPO exercise. - Bernama
