From left: Ocean Fresh Bhd non-independent non-executive director Datuk Seri Chia Hooi Huak, Ocean Fresh executive director Teo Chee Han, Ocean Fresh executive director Siang Hai Yong, KAF Investment Bank CEO Rohaizad Ismail and KAF Investment Bank corporate finance director Yap Chin Fatt.
KUALA LUMPUR: ACE Market-bound frozen seafood company Ocean Fresh Bhd’s initial public offering (IPO) has been oversubscribed by 76.22 times.
The group’s IPO consists of 50.05 million new ordinary shares at an issue price of 28 sen per share. It is expected to be listed on Bursa Malaysia on July 4, 2024.
“A total of 16,177 applications for 811.54 million new shares were received from the public, representing an overall oversubscription of 76.22 times,” it said in a statement.
The bumiputra public portion of shares was oversubscribed 65.68 times, with 8,654 applications for 350.39 million new shares received.
Meanwhile, 7,523 applications for 461.15 million new shares were received under the other Malaysian public portion, representing an oversubscription of 86.75 times.
