KUALA LUMPUR: Ambest Group Bhd’s initial public offering (IPO was oversubscribed by 46.07 times for the Malaysian public portion ahead of its listing on the ACE Market of Bursa Malaysia Securities Bhd.
The IPO, priced at RM0.25 per share, comprises a public issue of 110 million new shares and an offer for sale of 40.95 mil existing shares.
A total of 8,084 applications for 1.2 billion issue shares were received from the Malaysian public, resulting in an overall oversubscription rate of 46.07 times.
The Bumiputera tranche recorded 4,138 applications for 365.41 million shares, translating into an oversubscription rate of 27.66 times, while the remaining public portion saw 3,946 applications for 834.87 million shares, representing an oversubscription rate of 64.48 times.
Shares allocated to eligible directors, employees and contributors were fully subscribed. All private placement tranches — including 63.75 million shares placed with Bumiputera investors approved by the Ministry of Investment, Trade and Industry and eight million shares placed with selected investors — were fully taken up, as were the 40.95 million offer shares.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
The precision engineering services provider is scheduled to debut on the ACE Market on Feb 6, 2026.
