ORIENTAL Kopi Holdings Bhd’s initial public offering (IPO) on the ACE Market of Bursa Malaysia has been oversubscribed by 59.96 times.
The IPO involves 418.1 million shares priced at 44 sen per share.
Of these, 60 million shares offered to the Malaysian public received 66,041 applications for 3.66 billion shares, amounting to a 97.72 times oversubscription for the public portion.
The Bumiputera portion, comprising 250 million shares, saw 10,156 applications for 695.88 million shares, representing an oversubscription rate of 22.20 times.
Additionally, 20 million shares reserved for eligible directors, employees, and contributors were fully subscribed, while private placements of 250 million shares to Bumiputera investors and 88.1 million shares to selected investors were also fully placed out.
Notices of allotment will be sent to successful applicants on January 21, 2025.
Alliance Islamic Bank Bhd acted as the principal adviser, sponsor, sole underwriter, and placement agent for the IPO. — TMR
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