Zantat Holdings Berhad’s saw its initial public offering for the public portion has been oversubscribed by 130.15 times.
A total of 13,755 applications seeking 1.84 billion new shares with a value of RM459.01 million were received from the Malaysian public for 14.0 million new shares that were made available for public subscription.
The Bumiputera public portion of shares was oversubscribed by 137.99 times, after a total of 8,151 applications for 972.94 million new shares received.
For the non-Bumiputera public portion, a total of 5,604 applications for 863.11 million new shares were received, which represents an oversubscription rate of 122.30 times.
Meanwhile, the 11.2 million new shares for its eligible Directors, employees and persons who have contributed to the success of Zantat Group have also been fully subscribed.
In addition, its Placement Agent has confirmed that 47.6 million shares made available for application by way of private placement to selected investors have been fully placed out.
The group aims to use the proceed to expand its ground calcium carbonate production line, as well as to upgrade its existing R & D facilities within Zantat Perak Plant 1.
Zantat, which is scheduled to list on the ACE Market of Bursa Malaysia Securities Berhad on 27 March 2024, aims to raise RM14.0 million from its IPO.
Under the listing exercise, Zantat is issuing 56.0 million new shares, representing 20.0% of the enlarged share capital at an issue price of RM0.25 per share.
As part of its listing exercise, the existing shareholders of the Company will also make an Offer for Sale of 16.8 million existing shares to selected investors by way of Private Placement.
Based on the enlarged share capital of 280.0 million shares, Zantat is expected to have a market capitalisation of RM70.0 million after listing.
All notices of allotment for these shares will be mailed to successful applicants on or before 25 March 2024.
M & A Securities Sdn Bhd is the Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.
Zantat’s products are mainly sold to countries in the Asia Pacific Region with India being the largest market followed by Malaysia.
The Company’s largest group of customers are plastic masterbatch manufacturers followed by rubber glove manufacturers, PVC pipe and cable manufacturers, and other manufacturers including paints and coatings, other rubber products, sheet moulding compound, ceramic and pottery, adhesive, plaster and furniture, among others.
