KUALA LUMPUR: Oil and gas shipping company Orkim Bhd
’s initial public offering (IPO) has recorded strong demand from retail investors, with the public tranche oversubscribed by 11.84 times, according to the Malaysian Issuing House Sdn Bhd (MIH).
In a statement yesterday, MIH said the IPO comprised up to 400 million ordinary shares.
“(The IPO) involves the institutional offering of up to 372 million shares to Malaysian institutional and selected investors, including bumiputra investors approved by the Investment, Trade and Industry Ministry, at the institutional price determined by way of bookbuilding,” it said.
Furthermore, MIH said the retail offering comprised 28 million shares for eligible directors, employees and contributors to the Orkim group and the Malaysian public.
