Malaysian Issuing House Sdn Bhd has announced that the IPO of Oppstar available for application by the Malaysian public is oversubscribed by 77.05 times.
Oppstar’s IPO comprises a public issue of 165,479,000 IPO Shares which is made available for application in the following manner:
• 31,810,000 IPO Shares available for application by the Malaysian public;
• 22,267,000 IPO Shares available for application by the eligible directors, employees and business associates who have contributed to the success of Oppstar and its subsidiaries;
• 31,877,000 IPO Shares by way of private placement to selected investors; and
• 79,525,000 IPO Shares by way of private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry of Malaysia.
In addition, Affin Hwang Investment Bank Berhad, as the Principal Adviser, Sponsor, Sole Placement Agent and Sole Underwriter has confirmed that the 31,877,000 IPO Shares made available for application by way of private placement to selected investors as well as 79,525,000 IPO Shares by way of private placement to Bumiputera investors approved by the
MITI were fully placed out.
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.
