KUALA LUMPUR: Life Water Bhd's issue of 23.66 million initial public offering (IPO) shares to the Malaysian public in conjunction with its listing on the Main Market of Bursa Malaysia has been oversubscribed by 32.19 times.
In a statement, Tricor Investor and Issuing House Services Sdn Bhd said it has received 16,072 applications for 785.38 million new shares with a value of RM510.5mil from the Malaysian public.
The Bumiputera portion of the issue received 6,814 applications for 275.66 million new shares for an oversubscription rate of 22.3 times.
Meanwhile, the public portion recorded 9,258 applications for 509.72 million new shares, for an oversubscription rate of 42.09 times.
Additionally, the issuing house said the 14.2 million new shares made available for application by the eligible directors, employees and persons who have contributed to the success of Life Water and its subsidiaries has also been fully subscribed.
MIDF Amanah Investment Bank Bhd, being the placement agent, has confirmed that the 59.15 million new shares made available by way of private placement to identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry have been fully placed out.
A total 560,000 new shares and 28,390,000 existing shares made available by way of private placement to selected investors have been fully placed out.
The notices of allotment will be posted to all successful applicants on Nov 11, 2024.
MIDF Amanah Investment Bank is the principal adviser, underwriter and placement agent for the IPO.
