The IPO of ITMAX System has been oversubscribed by 18.20 times
The IPO of ITMAX System involves the issuance of 320,000,000 IPO Shares comprising the following:
(I) institutional offering of up to 289,160,000 IPO Shares to institutional and selected investors, including Bumiputera investors approved by the Ministry of International Trade and Industry (MITI Tranche) at the institutional price to be determined by way of bookbuilding (Institutional Price) (Institutional Offering); and
(II) retail offering of 30,840,000 Issue Shares to the directors of ITMAX System, eligible employees of ITMAX System and its subsidiary, persons who have contributed to the success of the Group and the Malaysian public at the retail price of RM1.07 per Issue Share (Retail Price).
The Joint Bookrunners secured 13 cornerstone investors which subscribed for 62.1% of the Institutional Offering excluding the MITI tranche. For the Institutional Offering, the Joint Bookrunners have confirmed that the 289,160,000 IPO Shares offered to institutional and selected investors were fully subscribed.
The Institutional Price has been fixed at RM1.07 per IPO Share. Accordingly, the final retail price for the Issue Shares under the Retail Offering has also been fixed at RM1.07 per Issue Share (“Final Retail Price”).
As the Final Retail Price equals to the Retail Price, there will be no refund to be made to the successful applicants under the Retail Offering.
A total of 11,354 applications for 394,782,600 Issue Shares with a value of RM422,417,382.00 were received from the Malaysian public for the 20,560,000 Issue Shares made available for application by the Malaysian public, which represents an overall oversubscription rate of 18.20 times. For the Bumiputera portion, a total of 5,867 applications for 125,613,200 Issue Shares were received which represents an oversubscription rate of 11.22 times.
For the public portion, a total of 5,487 applications for 269,169,400 Issue Shares were received which represents an oversubscription rate of 25.18 times.
The Notice of Allotment will be despatched to all successful applicants on or before 12 December 2022.
Maybank Investment Bank Berhad is the Principal Adviser, Joint Bookrunner, Managing Underwriter and Joint Underwriter for the IPO.
CIMB Investment Bank Berhad is the Joint Bookrunner and Joint Underwriter for the IPO.
AmInvestment Bank Berhad is the Joint Underwriter for the IPO.
