Malaysian Issuing House Sdn Bhd announced that the IPO of MN Holdings Bhd by the Malaysian public is oversubscribed by 118.48 times.
MN’s IPO comprises a public issue of 81,750,000 new ordinary Shares (“Shares”) which were made available for application in the following manner: –
• 20,437,600 new Shares available for application by the Malaysian public; • 8,175,000 new Shares available for application by our Eligible Directors and employees;
• 51,093,800 new Shares by way of private placement to identified Bumiputera Investors approved by the Ministry of International Trade and Industry Malaysia (“MITI”);
• 2,043,600 new Shares by way of private placement to selected investors; and
Offer for Sale (“Offer Shares”) of 40,875,000 existing Shares by way of private placement to selected investors.
In statement, it said that a total of 17,205 applications for 2,441,965,200 new Shares from the Malaysian public, representing an oversubscription rate of 118.48 times.
A total of 9,340 applications for 919,936,100 new Shares were received under the Bumiputera category, representing an oversubscription rate of 89.02 times, whilst 7,865 applications for 1,522,029,100 new shares were received under the other Malaysian public category, representing an oversubscription rate of 147.94 times.
Meanwhile, the total of 8,175,000 new Shares available for application by our eligible directors and employees were fully subscribed. The Adviser, Sponsor, Underwriter and Placement Agent has confirmed that the 94,012,400 shares by way of private placement have also been fully placed out. The notices of allotment for the new Shares will be mailed to successful applicants on or before 28 April 2022.
