PETALING JAYA: EI Power Bhd’s initial public offering (IPO) has been oversubscribed by 30.77 times ahead of its listing on the Main Market of Bursa Malaysia on May 21.
The 70 million shares offered by way of private placement to selected bumiputa investors under the Investment, Trade and Industry Ministry, and other selected investors were fully place out, EI Power stated in a release.
The 17.5 million shares allocated to eligible directors, employees and contributors to the group were fully subscribed.
EI Power is a Malaysian power engineering firm, established in 2010, specialising in turnkey engineering, procurement, construction and commissioning solutions for mission-critical power, conventional backup power, and renewable energy.
The institutional price and final retail price for the IPO shares were fixed at 48 sen apiece. EI Power’s IPO involves the issuance of 129.5 million new shares.
