Pentech Holdings Berhad has attracted strong investor demand for its initial public offering (IPO), with the public portion oversubscribed by 120.98 times ahead of its listing on the ACE Market of Bursa Malaysia.
In a statement, the company said it received 29,527 applications seeking a total of 3.89 billion shares worth RM756.3 million from the Malaysian public, compared with the 31 million shares made available under the public balloting exercise.
The Bumiputera portion recorded an oversubscription rate of 105.44 times after receiving 13,624 applications for 1.65 billion shares.
Meanwhile, the public portion garnered 15,903 applications for 2.13 billion shares, translating into an oversubscription rate of 136.52 times.
The company also reported full subscription for the 31 million shares allocated to eligible persons under its IPO.
Under the institutional offering, all 32.5 million shares allocated to selected investors via private placement were fully taken up.
In addition, the 77.5 million shares earmarked for Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) were fully placed out.
The strong response indicates robust investor interest in Pentech’s growth prospects as it prepares to join the ACE Market.
The IPO forms part of Pentech’s listing exercise on Bursa Malaysia, with proceeds expected to support the company’s business expansion and future growth initiatives.
The successful completion of both the retail and institutional portions positions the company for its upcoming market debut, with demand significantly exceeding the number of shares offered to the public.
