Orkim Berhad announces that the public portion of its initial public offering has been oversubscribed 12 times during the public balloting today.
The Group received a total of 6,767 applications for 256.8 million shares for the 20.0 million shares made available for application by the Malaysian public, representing an oversubscription rate of 11.84 times. The Bumiputera portion attracted 3,430 applications for 120.1 million shares, oversubscribed by 11.01 times, while the remaining public portion recorded 3,337 applications for 136.7 million shares, oversubscribed by 12.67 times. The 8.0 million shares reserved for eligible directors, employees and persons who have contributed to the success of the Group, together with the Institutional Offering were also fully subscribed.
Orkim’s Chairman, Dato’ Abdul Hamid Sh Mohamed said, “We are deeply encouraged by the strong support and confidence shown by our investors. The oversubscription reflects market recognition of Orkim’s track record, capabilities, and resilience.”
CIMB Investment Bank Berhad is the principal adviser, joint bookrunner, managing underwriter, and joint underwriter for this IPO exercise. RHB Investment Bank Berhad acts as the joint bookrunner and joint underwriter, while Affin Hwang Investment Bank Berhad is the joint underwriter.
