PETALING JAYA: SumiSaujana Group Bhd’s initial public offering (IPO) of new shares offered to the Malaysian public has been oversubscribed by 1.85 times ahead of its listing on the ACE Market of Bursa Malaysia.
The IPO aims to raise about RM74.4mil from the public issuance of 310 million new shares at 24 sen each.
In a filing with the local stock exchange, the specialty chemicals manufacturer said 72.5 million shares were made available, whereby 36.25 million shares were for Bumiputera investors, and another 36.25 million shares were for the Malaysian public.
Shares from the Bumiputera investors were oversubscribed by 1.23 times while the remaining shares were oversubscribed by 2.47 times.
The company noted the 122.6 million shares offered via private placement were also fully placed out.
It added that the offering of shares to Bumiputera investors through private placement approved by MITI was also fully bought up after applying the relevant clawback and reallocation provisions as set out in SumiSaujana's prospectus dated March 13, 2025.
The group is set to list on April 9, 2025.
