Oppstar Berhad is en route to ACE Market listing on 15 March and aims to raise RM105.25 million as the group looks to expand its business growth.
The IPO involves a public issue of 165,479,000 new shares, which represents approximately 26.0% of its enlarged issued share capital of 636,200,000 shares upon listing. Of the shares offered 31,810,000 shares or 5.0% of its enlarged issued share capital, will be made available for application by the Malaysian public; 22,267,000 shares, or 3.5% of its enlarged issued share capital, will be made available for application by the eligible directors, employees and business associates who have contributed to the success of the Group; 31,877,000 shares or 5.0% of its enlarged issued share capital, will be made available through private placement to selected investors; and 79,525,000 shares or 12.5% of its enlarged issued share capital, will be made available through private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry of Malaysia.
AHIBB is the sole underwriter of the 54,077,000 shares made available for application by the Malaysian public and eligible directors, employees, and business associates of the Group.
