Malaysia’s first listed Islamic business trust, Prolintas infra Business Trust debuts on the main market today opening at 95 sen.
The IPO saw its public tranche oversubscribed by 3.59 times. The group received a total of 7,211 applications for 126,172,600 units, with a total value of RM119.9 million, versus 27,500,000 units made available for application by the Malaysian public, according to a statement recorded by Malaysian Issuing House Sdn Bhd.
For the Bumiputera portion, a total of 2,881 applications for 32,344,900 units were received, representing an oversubscription rate of 1.35 times, while 4,330 applications for 93,827,700 units were received under the other Malaysian public portion, representing an oversubscription rate of 5.82 times.
Meanwhile, the institutional offering which comprises 422,949,000 units made available to institutional and selected investors, including Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) have been fully subscribed.
The eight cornerstone investors secured for the IPO, including Permodalan Nasional Berhad, AHAM Asset Management Berhad, AIIMAN Asset Management Sdn Bhd, Lembaga Tabung Haji, Maybank Asset Management Sdn Bhd, Maybank Islamic Asset Management Sdn Bhd, Kenanga Investors Berhad, and Kenanga Islamic Investors Berhad, had collectively subscribed for 70.9% of the institutional offering
