KUALA LUMPUR: BMS Holdings Bhd
, which is set to list on the ACE Market of Bursa Malaysia Securities on Dec 8, saw the public portion of its initial public offering (IPO) subscribed 2.40 times.
The retailer and distributor of tiles, stone surfaces, bathware and kitchenware received 4,470 applications for 185 million issue shares from the Malaysian public, representing an overall subscription rate of 2.40 times.
Under the Bumiputera public portion, BMS Holdings received 1,947 applications for 45.74 million issue shares, translating to a subscription rate of 1.19 times.
For the other Malaysian public portion, it received 2,523 applications for 139.33 million issue shares, representing a subscription rate of 3.62 times.
In a statement, managing director Ang Kwee Peng said the interest received for the IPO reflects steady support and the market’s confidence in the group’s retail platform and underlying fundamentals.
“This milestone reflects over three decades of dedication, innovation, and trust built with our customers and partners. The funds raised will accelerate our expansion, enhance our retail network, strengthen our supply chain infrastructure, and support our long-term growth strategy.
“We would like to express our sincere gratitude to all investors for their support, as well as to the regulators, our advisers, and the entire working group for their unwavering support and guidance throughout this IPO process,” Ang said.
Alliance Islamic Bank Bhd is the principal adviser, sponsor, sole underwriter, and placement agent for BMS’s IPO.
