PETALING JAYA: 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.
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 million 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 bumiputra 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, an oversubscription rate of 64.48 times.
