PETALING JAYA: Pentech Holdings Bhd’s offer of 31 million shares to the Malaysian public has been oversubscribed by 120.98 times, according to AscendServ Capital Markets Services Sdn Bhd.
The initial public offering (IPO), held in conjunction with the company’s listing on the ACE Market of Bursa Malaysia, was priced at 20 sen per share.
According to the issuing house, the IPO received 29,527 applications for 3.78 billion new shares, amounting to a total value of RM756.28mil.
The bumiputra portion received 13,624 applications for 1.65 billion new shares, representing an oversubscription rate of 105.44 times.
Meanwhile, the public portion recorded 15,903 applications for 2.13 billion new shares, achieving an oversubscription rate of 136.52 times.
Public Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.
