KUALA LUMPUR: OB Holdings Bhd’s initial public offering (IPO), has been oversubscribed by 109.47 times, ahead of its listing on the ACE Market of Bursa Malaysia.
In a statement, the food and beverage (F&B) and dietary supplements manufacturing services provider said its IPO entails a public issue of 120 million new ordinary shares at an issue price of RM0.24 per share.
This accounts for 30.64% of the enlarged issued share capital, with RM28.80mil expected to be raised from the public issue
OB Holdings received 22,753 applicants for a total of 2,163.19 million issue shares, valued at approximately RM519.16mil for the 19.58 million issue shares allocated to the entire Malaysian public, representing an overall oversubscription rate of 109.47 times.
For the Bumiputera portion, 11,375 applicants for 969.26 million issue shares were received, resulting in an overall subscription rate of 97.99 times.
For the remaining public portion, 11,378 applications were received for 1,193.93 million issue shares, resulting in an oversubscription rate of 120.94 times.
The 7.83 million issue shares available for application by the eligible directors, employees and persons who have contributed to the success of OB Holdings, were fully subscribed.
In respect of the private placement, the 43.63 million issue shares allocated to selected investors and the 48.95 million issue shares allocated to Bumiputera investors approved by the Ministry of Investment, Trade and Industry have also been fully placed out.
