KUALA LUMPUR: SKA Capital Bhd's initial public offering (IPO) has been oversubscribed by 80.42 times ahead of its listing on the ACE Market of Bursa Malaysia slated on Nov 11, 2026.
In a filing with Bursa Malaysia today, the power infrastructure engineering solutions provider said it received 25,026 applications for 3.64 billion shares at an issue price of 43 sen per share worth a total of RM1.57 billion from the Malaysian public, compared with 44.77 million shares made available for public subscription.
For the bumiputera portion, it said 12,133 applications for 1.38 billion shares were received, which represents an oversubscription rate of 60.84 times.
"For the non-bumiputera portion, 12,893 applications for 2.26 billion shares were received, which represents an oversubscription rate of 100 times," it said.
SKA Capital said the 8.95 million shares made available for application by eligible persons have been fully subscribed, while 111.93 million shares made available by way of private placement to bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) have also been fully placed out.
"The 74.80 million IPO shares made available by way of private placement to selected investors have been fully placed out," it added.
Under the group's prospectus launched on Oct 20, 2026, it aimed to raise RM72.3 million from its IPO to strengthen its ability to undertake multiple projects concurrently and compete for larger, higher-value power infrastructure contracts. - Bernama
