1 week Ago
KUALA LUMPUR: Mega Fortris Bhd, which is slated to be listed on the Main Market of Bursa Malaysia, said its offering of 42.25 million initial public offering (IPO) shares to the Malaysia public has been oversubscribed by 7.18 times.
In a statement, the manufacturer of security seals said it received 9,263 applications from the Malaysian public for 345.76 million issue shares with a value of RM231.66mil.
The bumiputera portion received 2,330 applications for 75.55 million shares for an oversubscription rate of 2.58 times while the non-bumiputera portion saw 6,933 applications for 270.
21 million shares, representing an oversubscription rate of 11.79 times. Meanwhile, the 25.
35 million issue shares made available for application by the eligible directors, employees, and persons who have contributed to the group’s success were also fully subscribed. The institutional offering to identified bumiputera investors approved by the Ministry of Investment, Trade and Industry, and institutional and selected investors by way of private placement comprising 80.27 million issue shares and 147.
87 million offer shares were also fully placed out. Mega Fortris said the notices of allotment will be posted to all successful applicants on Nov 7, 2024. RHB Investment Bank Bhd is the sole principal adviser, joint underwriter and joint placement agent for the IPO, while AmInvestment Bank Bhd is the joint underwriter and joint placement agent.
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