KUALA LUMPUR: Crest Group Bhd’s initial public offering (IPO) of 43.28 million issue shares for the Malaysian public has been oversubscribed 73.88 times ahead of its ACE Market listing on Oct 9, 2024.
The IPO is priced at 35 sen per share, and Crest aims to raise RM45.75 million.
In a statement today, the group said 33,826 applications for 3.24 billion issue shares were received from the Malaysian public.
Specifically, 15,594 applications for 1.18 billion issue shares were received for the bumiputera portion, representing an oversubscription rate of 53.41 times.
Meanwhile, 18,232 applications for 2.06 billion issue shares were received for the other Malaysian public portion, representing an oversubscription rate of 94.35 times.
The IPO’s public issue comprises 130.71 million new shares, with 43.28 million issue shares made available for application by the Malaysian public.
Another 12.98 million issue shares were made available for application by eligible directors and employees, and 74.44 million issue shares were made available by way of private placement to identified bumiputera investors approved by the Investment, Trade and Industry Ministry (MITI).
The 12.98 million issue shares made available for application by eligible directors and employees have been fully subscribed.
The IPO also involves offers for sale of 103.89 million existing shares, of which 33.76 million were made available by way of private placement to identified bumiputera investors approved by the MITI, and
70.13 million made available by way of private placement to selected investors.
Crest added that MIDF Amanah Investment Bank Bhd, as the principal adviser, sponsor, underwriter and placement agent, has confirmed that 74.44 million issue shares and 33.76 million offer shares made available by way of private placement to bumiputera investors approved by MITI and 70.13 million offer shares made available for application by way of private placement to selected investors have been fully placed out. - Bernama
