KUALA LUMPUR: The Malaysian public portion of RedPlanet Bhd’s initial public offering (IPO) has been oversubscribed by 85.28 times, with 7,031 applications for 1.77 billion shares worth approximately RM336.72mil received.
The enterprise information and communications technology or ICT solutions provider specialising in geospatial and intelligent rail solutions is set to transfer its listing from the LEAP Market to the ACE Market of Bursa Malaysia on Oct 22, 2026.
In a statement, RedPlanet said its IPO comprised a public issue of 70 million new ordinary shares, including 20.54 million shares made available for application by the Malaysian public.
The 19.71 million shares reserved for eligible directors, employees and persons who have contributed to the success of the firm have been fully subscribed after applying the relevant clawback and reallocation provisions. — Bernama
