BCM Al­liance IPO shares for pub­lic over­sub­scribed

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: BCM Al­liance Bhd, which is en route to list­ing on the ACE Mar­ket of Bursa Malaysia, has re­ceived over­sub­scrip­tion rate of 49.943 times for the pub­lic por­tion of its ini­tial pub­lic of­fer­ing (IPO).

The com­pany said in a state­ment yes­ter­day that the over­sub­scrip­tion rate of 49.943 times, val­ued at RM212.94 mil­lion was the high­est rate for the pub­lic cat­e­gory of an IPO in 2016 to date.

A to­tal of 11,094 ap­pli­ca­tions for RM1.12 bil­lion new shares, val­ued at RM212.94 mil­lion were re­ceived from the Malaysian pub­lic for 22 mil­lion new shares that were made avail­able for pub­lic sub­scrip­tion.

The 9 mil­lion new shares made avail­able for ap­pli­ca­tion by el­i­gi­ble direc­tors and em­ploy­ees of BCM Al­liance who have con­trib­uted to the suc­cess of the group had also been fully sub­scribed.

In ad­di­tion, the place­ment agent, M&A Se­cu­ri­ties Sdn Bhd has con­firmed that the 95.37 mil­lion shares that were al­lo­cated by way of pri­vate place­ment to se­lected in­vestors had been fully placed out.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.