KUALA LUMPUR, Oct 7 — Samaiden Group Bhd’s intial public offering (IPO) for the public portion has been oversubscribed by 65.91 times.
The company received 15,857 applications for 603.95 million new shares with a value of RM289.90 million for 10.50 million shares made available for application by the Malaysian public, which represents an overall oversubscription rate of 56.52 times.
A total of 8,735 applications for 252.69 million new shares were received for the Bumiputera portion, which translated into an oversubscription rate of 47.13 times.
For the public portion, a total of 7,122 applications for 351.26 million new ordinary shares were received, representing an oversubscription rate of 65.91 times.
Meanwhile, the 6.30 million new shares made available for application by eligible directors, employees and persons who have contributed to the group have also been fully subscribed.
In addition, the placement agent has confirmed that the 44.35 million shares by way of placement to selected investors and Bumiputera investors approved by the Ministry of International Trade and Industry have been fully placed out.
Samaiden specialises in the engineering, procurement, construction and commissioning of solar photovoltaic systems and power plants.
Its IPO comprises a public issue of 61.16 million shares at 48 sen each and scheduled for a listing on Bursa Malaysia’s ACE Market on October 15.
Alliance Investment Bank Bhd is the principal adviser, sponsor, sole underwriter, and placement agent for the IPO. — Bernama
