PETALING JAYA: ISF Group Bhd’s initial public offering (IPO) on the ACE Market of Bursa Malaysia has drawn strong investor demand, with the public portion oversubscribed by more than 31 times.
In a filing with Bursa Malaysia yesterday, the company said it received 11,446 applications for about 1.61 billion shares from the Malaysian public, compared with 50 million shares available.
This translated into an oversubscription rate of 31.14 times, with total application value exceeding RM530mil.
Demand was particularly robust from the non-bumiputra public tranche, which recorded an oversubscription rate of 44.49 times, while the bumiputra public portion was oversubscribed by 17.78 times.
The 15 million shares reserved for eligible persons were fully subscribed.
