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BUSINESS

Orgabio's IPO oversubscribed by 50.86 times

24/06/2022 07:28 PM

KUALA LUMPUR, June 24 (Bernama) -- ACE Market-bound Orgabio Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 50.86 times. 

In a filing with Bursa Malaysia today, the instant beverage premix manufacturer said it has received a total of 7,562 applications for 642.66 million shares with a value of RM199.23 million from the Malaysian public. 

It said a total of 2,888 applications for 354.37 million shares were received for the public portion, representing an oversubscription rate of 56.19 times while for the Bumiputera portion, a total of 4,674 applications for 288.29 million shares were received, representing an oversubscription rate of 45.52 times.

Orgabio said a total of 6.2 million shares made available for application by the eligible directors and employees as well as persons who have contributed to the success of the company have also been fully subscribed.

Besides that, it said a total of 78.08 million shares made available for private placement have also been fully placed out, comprising 30.98 million shares to identified Bumiputera investors approved by the Ministry of International Trade and Industry, 22.31 million shares to selected investors and 24.79 million shares to Hai-O Enterprises Bhd.

Previously, the company announced that it planned to raise RM29.97 million from the IPO exercise. 

-- BERNAMA 


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