KUALA LUMPUR: MTT Shipping and Logistics Bhd’s (MTTSL) initial public offering (IPO) has been oversubscribed by 2.7 times, ahead of its listing on the Main Market of Bursa Malaysia.
The company said in a statement that it received a total of 10,863 applications for 184.79 million IPO shares valued at RM190.33 million from the public.
“For the bumiputra portion, a total of 3,893 applications for 54.14 million IPO shares were received, representing an oversubscription rate of 1.17 times,” it said.
For the public portion, a total of 6,970 applications for 130.65 million IPO shares were received, which represents an oversubscription rate of 4.23 times.
MTTSL said the 12.5 million IPO shares allocated to eligible persons were fully subscribed.
A further 285.5 million shares offered to Malaysian and foreign institutional and selected investors have been fully subscribed. — Bernama
