KUALA LUMPUR: ACE Market-bound Sik Cheong Bhd’s initial public offering (IPO) has been oversubscribed by 213.53 times.
The refined, bleached and deodorised (RBD) palm olein repackaging firm is scheduled to be listed on Aug 13.
“A total of 26,395 applications for 2.85 billion issue shares with a value of RM770.36mil were received from the Malaysian public, which represents an overall oversubscription rate of 213.53 times,” it said in a statement.
For the Bumiputera portion, a total of 14,953 applications for 1.3 billion issue shares were received, representing an oversubscription rate of 195.40 times.
As for the public portion, a total of 11,442 applications for 1.54 billion shares were received, representing an oversubscription rate of 231.65 times.
Sik Cheong noted that four million new shares which were made available for application by eligible directors, employees and persons who have contributed to the success of the company had also been fully subscribed.
In addition, TA Securities Holdings Bhd has confirmed that the 47.7 million shares and 20 million offer shares by way of private placement to selected investors have been fully placed out.
TA Securities is the principal adviser, sponsor, underwriter and placement agent for this IPO.