By TMR / Pic by TMR FILE
THE public portion of UMedic Group Bhd IPO was oversubscribed by 46.81 times.
The company said in a statement on Monday that there were 7,888 applications seeking 893 million new shares for the 18.69 million new shares made available for the public subscription.
The Bumiputera public portion of shares was oversubscribed by 33.44 times, after a total of 3,998 applications for 321.9 million shares were received.
“Under the other public category, a total of 3,890 applications for 571.9 million IPO shares were received, which represents an oversubscription rate of 60.19 times,” UMedic Group said in an exchange filing.
The company added that 13 million IPO shares made available for application by the Eligible Persons have also been fully subscribed.
For private placement, a total of 65. 4 million IPO shares reserved for private placement to Selected Investors have been fully placed out.
UMedic targets to raise about RM31.11 million from its IPO for the construction of a new factory, setting up its new marketing and distribution offices, repayment of borrowings, working capital and listing related expenses.
Affin Hwang Investment Bank Bhd is the principal advisor, sponsor, sole placement agent and sole underwriter for UMedic’s IPO exercise.
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