Ihsan Sukuk’s IPO oversubscribed by 1.3x

Ihsan Sukuk Bhd’s initial public offering (IPO) has been oversubscribed by 1.3 times, ahead of its slated listing on Aug 9.

In an exchange filing last Friday, the special-purpose vehicle for Khazanah Nasional Bhd said its sukuk offering of 50,000 units made available to the Malaysian public received a total of 139 application covering 64,810 units.

It added that all notices of allotment for the retail sukuk offering will be mailed to successful applicants on or before Aug 8. The principle advisor and lead arranger is CIMB Investment Bank Bhd, while the joint lead managers are CIMB Investment Bank, Maybank Investment Bank Bhd and RHB Investment Bank Bhd.

The retail offering is part of the second sustainable and responsible investment tranche of up to RM100 million from the sovereign wealth fund.