KUALA LUMPUR: A total of 14,739 applications for 305.54 million shares with a value of RM534.71 million were received from the Malaysian public for TMK Chemical Bhd’s initial public offering (IPO) en route to its listing on the Main Market of Bursa Malaysia, for an oversubscription of 14.28 times.
TMK Chemical’s IPO involves the issuance of 220.00 million shares, with institutional offering of 190.00 million shares to institutional and selected investors; and retail offering of 30.00 million shares to the directors of TMK, eligible employees of TMK and its subsidiaries, persons who have contributed to the success of the group and the Malaysian public.
It said in a filing with Bursa Malaysia today that for the bumiputera portion, a total of 6,653 applications for 114.87 million shares were received, which represents an oversubscription rate of 10.49 times.
"For the public portion, a total of 8,086 applications for 190.67 million shares were received, which represents an oversubscription rate of 18.07 times,” it said.
Meanwhile, for the institutional offering, the company said the sole bookrunner has confirmed that the 190.00 million shares offered to institutional and selected investors were fully subscribed.
"The institutional price has been fixed at RM1.75 per share. Accordingly, the final retail price for the IPO shares under the retail offering has also been fixed at RM1.75 per share.
"As the final retail price equals to the retail price, there will be no refund to be made to the successful applicants under the retail offering,” it added.
The notices of allotment will be posted to all successful applicants on Dec 11, 2024.
Maybank Investment Bank Bhd is the principal adviser, sole bookrunner and sole underwriter for the IPO. - Bernama
