KUALA LUMPUR: The public portion of the initial public offering (IPO) of Ace-Market-linked UMediC Group Bhd was oversubscribed 46.81 times.
The medical device maker said in a statement that a total of 7,888 applications for 893.92 million IPO shares were received from the Malaysian public, representing an oversubscription rate of 46.81 times.
“In the Bumiputera category, a total of 3,998 applications were received for 321.93 million IPO shares, representing a 33.44 times oversubscription rate, while 3,890 applications were received for 571.98 million IPO shares in the other Malaysian public category, which equates to a 60.19x oversubscription rate,” it said.
Meanwhile, UMediC announced that the 13.09 million new shares allocated for subscription to eligible directors, employees and individuals who have contributed to the success of the group have been fully subscribed.
The Sole Placement Agent, Affin Hwang Investment Bank Bhd, has confirmed that the 65.44 million IPO shares made available to selected investors to apply via the private placement have been fully placed.
Affin is the principal advisor, sponsor, sole placement agent and sole underwriter for the IPO.
UMediC, which is expected to be listed on Bursa Malaysia’s ACE market on July 26, intends to raise RM31.1 million through its IPO.
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