KUALA LUMPUR: Melaka-based food products and manufacturer Guan Huat Seng Holdings Bhd’s initial public offering (IPO), ahead of its ACE Market listing on Bursa Malaysia Securities Bhd, was oversubscribed by 4.78 times.
A total of 2,842 applications for 137.61 million shares were received for the 23.8 million shares allocated to the Malaysian public.
The Bumiputera portion received 649 applications for 35.16 million shares, representing an oversubscription of 1.96 times, while the other Malaysian public portion attracted 2,193 applications for 102.45 million shares, resulting in an oversubscription of 7.61 times.
Additionally, the 14 million public issue shares made available for application by the eligible parties have been fully subscribed.
TA Securities Holdings Berhad is the principal adviser, sponsor, underwriter and placement agent for the IPO.
The placement agent has confirmed that the 23 million public issue shares and 21.0 million offer shares to selected investors, as well as 59.2 million public issue shares to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, were fully placed.
Guan Huat Seng is scheduled to be listed on the ACE Market on Jan 22.
