SLGC Bhd’s initial public offering (IPO) has attracted strong interest from Malaysian investors, with the public portion oversubscribed by 3.06 times ahead of the company’s listing on the ACE Market of Bursa Malaysia.
M&A Securities, on behalf of SLGC’s board of directors, said a total of 4,647 applications for 113.71 million new shares were received for the 28 million shares made available to the Malaysian public.
The Bumiputera portion attracted 1,962 applications for 31.31 million shares, representing an oversubscription rate of 1.24 times.
Meanwhile, the public portion received 2,685 applications for 82.40 million shares, translating into an oversubscription rate of 4.89 times.
SLGC also confirmed that the two million new shares reserved for eligible directors and employees were fully subscribed.
The 70 million new shares allocated to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) were fully placed out following the relevant clawback and reallocation provisions.
Additionally, all 68 million shares offered through private placement to selected investors were fully taken up. These comprised five million new shares and 63 million existing shares offered for sale.
