ACE bound DS Sigma IPO oversubscribed by 25.77 times

THE ACE Market-bound company, DS Sigma Holdings Bhd’s public portion of its IPO has been oversubscribed by 25.77 times.

The packaging products provider said a total of 13,031 applications for 642.58 million new shares with a value of RM353.42 million were received from the Malaysian public, representing an overall oversubscription rate of 25.77 times.

For the Bumiputera portion, a total of 7,778 applications for 300.04 million new shares were received, which represents an oversubscription rate of 24 times.

For the public portion, a total of 5,253 applications for 342.5 million new shares were received, which represents an oversubscription rate of 27.54 times.

Meanwhile, 9.8 million new shares made available for application by the eligible directors, employees, and persons who have contributed to the success of DS Sigma and its subsidiaries have also been fully subscribed.

Public Investment Bank Bhd, the placement agent has confirmed that the 95.8 million shares made available for application by way of private placement have been fully placed out.

DS Sigma, slated to be listed on Jan 6, expects to raise RM50.15 million to expand its operations and penetrate new market areas.

DS Sigma MD Lucille Teoh Soo Lien said the industrial demand for packing solutions remains intact and is stronger than ever and as such, the company will build upon the momentum and grow DS Sigma.

“Our IPO proceeds will be utilised strategically to expand our footprint regionally as well as production capability. With that said, we intend to capture on the market demand to further exercise our growth and secure more market share upon our listing on the ACE Market,” she said.

Public Investment Bank Bhd is the principal advisor, sponsor, sole underwriter and sole placement agent for the IPO exercise. — TMR / pic source: DS Sigma Holdings Bhd