ACE Market bound Plytec Holdings Berhad has announced that its public issue of 30,303,100 Issue Shares made available for application by the Malaysian public has been oversubscribed by 6.72 times.
The IPO comprises the: public issue of 106,060,600 new ordinary shares in PLYTEC in the following manner: 30,303,100 Issue Shares available for application by the Malaysian public; 75,757,500 Issue Shares by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
A total of 3,451 applications for 233,866,400 Issue Shares were received from the Malaysian public, representing an overall oversubscription rate of 6.72 times. For the Bumiputera portion, a total of 1,550 applications for 89,311,600 Issue Shares were received, representing an oversubscription rate of 4.89 times, while 1,901 applications for 144,554,800 Issue Shares were received under the other Malaysian public portion, representing an oversubscription rate of 8.54 times.
21,212,100 Offer Shares made available for application by the eligible directors and employees as well as persons who have contributed to the success of PLYTEC and its subsidiaries have been fully subscribed.
The Principal Adviser, Sponsor, Managing Underwriter, Joint Underwriter, and Joint Placement Agent for this IPO have confirmed that the 30,303,000 Offer Shares were made available by way of private placement to selected investors and have been fully placed out.
The 75,757,500 Issue Shares made available for application by Bumiputera investors approved by the MITI have been fully placed out. KAF Investment Bank Berhad is the Principal Adviser, Sponsor, Managing Underwriter, Joint Underwriter, and Joint Placement Agent.
Kenanga Investment Bank Berhad is the Joint Underwriter and Joint Placement Agent.
