Farm Fresh Bhd which is scheduled to be listed on the KLSE main board on March 22 has received an overwhelming response from investors as the company’s initial shares have been oversubscribed.
In a filing to Bursa Malaysia, issuing house Tricor Investor said the IPO involved the issuance of 743.18 million shares, comprising of an institutional offering of 687.44 million shares to Malaysian and foreign institutional and selected investors, including Bumiputera investors, as well as 55.74 million shares to directors of the company and its subsidiaries plus eligible employees.
It said after securing a record 30 cornerstone investors, which subscribed for 79.6 percent of the institutional offering size, “the institutional offering, including allotment, has received an overwhelming demand of RM5.2 billion from domestic and global investors at the close of bookbuilding.” For the retail offering, it said applications for a total of 752.12 million issue shares with a value of RM1.02 billion were received from the Malaysian public and eligible persons.
The institutional price has been fixed at RM1.35 per IPO share, hence accordingly the final retail price for the retail offering has also been fixed at RM1.35 per issue share.
CIMB Investment bank is the sole principal advisor for the IPO exercise with Maybank Investment bank is the joint global coordinator.
