PETALING JAYA: One Gasmaster Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 25.24 times, ahead of its listing on the ACE Market of Bursa Malaysia.
The environmental monitoring and industrial hygiene solutions provider received 6,417 applications for 406.76 million shares from the public, resulting in an overall oversubscription rate of 25.24 times.
A total of 3,177 applications for 161.33 million shares were received for the bumiputra portion, translating into an oversubscription rate of 19.82 times, the company said in a statement.
Meanwhile, 3,240 applications for 245.4 million issue shares were received under the other Malaysian public portion, representing an oversubscription rate of 30.67 times.
Shares allocated to eligible directors and employees were fully taken up, while all private placement tranches were also fully placed out.
Malacca Securities Holdings Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
