PETALING JAYA: Plytec Holding Bhd
’s initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia saw the public issue of 30,303,100 shares made available for application by the public being oversubscribed by 6.72 times.
In a statement, the engineering construction company said the IPO comprised a public issue of 106,060,600 new ordinary shares.
“An additional 75,757,500 shares were offered by way of private placement to bumiputra investors, approved by the Ministry of Investment, Trade and Industry (Miti).
“Additionally, there was an offer for sale of 51,515,100 existing ordinary shares, with 21,212,100 of these offer shares available for application by eligible directors, employees, and contributors to Plytec’s success, and 30,303,000 offer shares by way of private placement to selected investors,” it said.
The company said a total of 3,451 applications were received for 233,866,400 issue shares from the public.
“For the bumiputra portion, 1,550 applications were received for 89,311,600 issue shares, indicating an oversubscription rate of 4.89 times.
“Furthermore, 1,901 applications were received from other public applicants for 144,554,800 issue shares, boasting an oversubscription rate of 8.54 times,” it said.
It said that the 21,212,100 offer shares made available for eligible directors, employees and contributors to Plytec’s success had been fully subscribed.
“Additionally, the 30,303,000 offer shares offered by way of private placement to selected investors have been fully placed.
“The 75,757,500 issue shares designated for bumiputra investors approved by Miti have also been fully placed,” it added.
KAF Investment Bank Bhd is the principal adviser, sponsor, managing underwriter, joint underwriter and joint placement agent for this IPO while Kenanga Investment Bank Bhd is the joint underwriter and joint placement agent. — Bernama
