TMK Chemicals Bhd, set to debut on the Main Market of Bursa Malaysia on Dec 12, 2024, saw its initial public offering (IPO) oversubscribed by 14.28 times.
The public portion attracted significant interest, with 14,739 applications for 305,549,900 shares worth RM534.7 million.
The Bumiputera allocation was oversubscribed by 10.49 times, while the public portion recorded an 18.07 times oversubscription.
The IPO involves a public issue of 220 million new shares priced at RM1.75 each, aiming to raise RM385 million for business expansion.
Notably, no shares will be offered for sale in this exercise.
Notices of allotment for successful applicants will be distributed on Dec 11, 2024.
Maybank Investment Bank Bhd is the principal adviser, sole bookrunner, and sole underwriter for the IPO. — TMR