Sin-Kung Logistics Berhad’s saw its initial public offering for the public portion being oversubscribed by 26.5 times, accordingly a total of 13,179 applications seeking 1.7 billion new shares were received for 60.0 million new shares that were made available for public subscription.
The Bumiputera public portion of shares was oversubscribed by 21.7 times, after a total of 7,360 applications for 680.7 million new shares received.
For the non-Bumiputera public portion, a total of 5,819 applications for 971.8 million new shares were received, which represents an oversubscription rate of 31.4 times.
Meanwhile, the 45.0 million new shares for its eligible Directors, employees and persons who have contributed to the success of Sin-Kung Logistics Group have also been fully subscribed.
In addition, its Placement Agent has confirmed that 198.5 million shares made available for application by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (“MITI”) and selected investors have been fully placed out.
Sin-Kung Logistics, which is scheduled to list on the ACE Market of Bursa Malaysia Securities Berhad on 15 May 2024, aims to raise RM26 million from its IPO.
M & A Securities Sdn Bhd (“合盈证券私人有限公司”) is the Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.
