KUALA LUMPUR: Enest Group Bhd
’s initial public offering (IPO) has been oversubscribed by 1.94 times, ahead of its listing on the ACE Market of Bursa Malaysia.
The pure bird’s nest supplier said 2,871 applications for 85.33 million new shares worth RM11.12mil were received from the Malaysian public.
“For the bumiputera portion, a total of 1,474 applications for 29.8 million new shares were received, which represents an oversubscription rate of 1.05 times.
“For the public portion, a total of 1,397 applications for 55.6 million new shares were received, which represented an oversubscription rate of 2.83 times,” it said.
Enest said that the 8.72 million new shares made available for application by the eligible director, employees and persons who have contributed to the success of the group have also been fully subscribed.
M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO. — Bernama
