Bison’s IPO public offering oversubscribed by 6.94 times

PETALING JAYA: Malaysian Issuing House Sdn Bhd has announced that Bison Consolidated Bhd’s (Bison) Public Offering under which 15,503,500 initial public offering (IPO) shares were made available for applications by the Malaysian public has been oversubscribed and the balloting of successful applications was conducted on Wednesday afternoon.

The institutional offering involves 62.31 million IPO shares comprising 31.30 million IPO shares to Malaysian institutional and selected investors at the institutional price to be determined by way of bookbuilding and 31.01 million IPO shares to Bumiputera institutional and selected investors approved by the Ministry of International Trade and Industry Malaysia.

Following the closing of the institutional offering period, the institutional price has been fixed at RM1.10 per IPO share on March 15, 2016. Accordingly, the final retail price for the IPO shares under the retail offering was also fixed at RM1.10 per IPO share.

As the final retail price equals the retail price as set out in the prospectus, there will be no refund to be made to the successful retail applicants.

The retail offering which involves 18.30 million IPO shares have been allocated in the following manner; 15.50 million IPO shares were made available for application by the Malaysian public, 50 per cent of which were allocated to Bumiputera investors and 50 per cent under the public category; and 2,800,000 IPO shares were reserved for subscription by the eligible persons.

A total of 6,754 applications for 123.16 million IPO shares were received from the Malaysian public for a total of 15.50 million IPO shares available for public subscription, which represents an oversubscription rate of 6.94 times.

A total of 3,800 applications for 52.83 million IPO shares were received for the Bumiputera category, which represents an oversubscription of 5.82 times, while under the public category 2,954 applications for 70.33 million IPO shares were received for an oversubscription of 8.07 times.