The initial public offering (IPO) of AGX Group, a domestic logistics service provider scheduled to be listed on the Growth Enterprise Market on February 7, has been oversubscribed 15.43 times.
According to a statement on Friday (Jan 26), AGX Group’s public offering of 96.5 million new shares to the Malaysian public received a total of 5,429 applications from the public, subscribing for up to 355,658,300 shares, with an average oversubscription of 15.43 times.
Among them, the Bumiputera portion received 3,007 applications to subscribe for 178.976100 shares, which was over-subscribed 15.53 times, while the public portion received 2,422 applications to subscribe for 176.682200 shares, which was 15.32 times over-subscribed.
In addition, the company’s 6.32 million new shares reserved for qualified directors and employees have also been fully subscribed.
At the same time, TA Securities, as the main adviser, sponsor, underwriter and placer, confirmed that the private placement and the 68.53 million shares and 30 million shares sold to specific investors by existing shareholders have also been placed.
AGX Group issued a total of 96.5 million new shares in this IPO event. The public offering price was 35 sen per share, and the total amount raised was 33.78 million ringgit, which was used to set up a warehouse at the Tanjung Pelepas Port in Johor.
