KUALA LUMPUR: Sum Technology Bhd's initial public offering (IPO) has been oversubscribed by 110.54 times ahead of its listing on the ACE Market of Bursa Malaysia Securities Bhd.
The turnkey solutions provider is scheduled to debut on June 18, 2026.
In a statement, Tricor Investor & Issuing House Services Sdn Bhd said the 22.5 million shares made available to the Malaysian public attracted 19,834 applications for 2.51 billion shares worth RM702.7mil.
The Bumiputera portion received 8,873 applications for 820.61 million shares, representing an oversubscription rate of 71.94 times.
Meanwhile, the public portion attracted 10,961 applications for 1.69 billion shares, translating into an oversubscription rate of 149.14 times.
The IPO involves the issuance of 117 million new shares at an issue price of 28 sen per share.
Of the total, 22.5 million shares were allocated to the Malaysian public, 4.5 million shares to eligible employees, 56.25 million shares to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti), and 33.75 million shares to selected investors via private placement.
The company said the 4.5 million shares reserved for eligible employees were fully subscribed.
The placement agent also confirmed that all 56.25 million shares allocated to Bumiputera investors approved by Miti and 33.75 million shares allocated to selected investors under the private placement exercise were fully subscribed.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
