On the back of investor interest in new listings on Bursa Malaysia, Pappajack which is mainly involved in pawnbroking has received much confidence on its route to being listed on the ACE Market. The directors and Kenanga Investment Bank Berhad have announced that their shares have been oversubscribed by 21.73 times.
On the placement, a total of 7,125 applications for 759,173,200 Public Issue Shares with a value of RM227,751,960 were received from the Malaysian Public for 33,400,000 Public Issue Shares made available for application, which represents an overall oversubscription rate of 21.73 times.
For the Bumiputera portion, a total of 2,243 applications for 116,687,800 Public Issue Shares were received, which represents an oversubscription rate of 5.99 times. For the public portion, a total of 4,882 applications for 642,485,400 Public Issue Shares were received, which represents an oversubscription rate of 37.47 times. The 6,680,000 Public Issue Shares made available for application by the Eligible Persons have been fully subscribed.
The 83,500,000 Public Issue Shares made available by way of the private placement for Bumiputera investors approved by MITI have also been fully placed out. The 43,420,000 Public Issue Shares made available by way of a private placement to selected investors have been fully placed out.
