Ocean Fresh IPO Shares Oversubscribed By 76 Times

ACE Market bound, Ocean Fresh Berhad Malaysian has managed to receive overwhelming respomse for its public allotment of its IPO shares with it being oversubscribed by 76.22 times.

The public issue were 50,050,000 New Ordinary Shares, with 10,510,000 New Shares for application by the Malaysian public; 1,710,000 New Shares for application by the eligible directors and employees; and 37,830,000 New Shares by way of private placement to selected investors.

A total of 16,177 applications for 811,549,800 New Shares were received from the Malaysian public, representing an overall oversubscription rate of 76.22 times.

KAF Investment Bank Berhad, as the Principal Adviser, Sponsor, Underwriter and Placement Agent has confirmed that the 37,830,000 New Shares have been fully placed out. The notices of allotment will be mailed to all successful applicants by 3 July 2024.

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