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BUSINESS

PT Resources shares offered to public oversubscribed by 24.48 times

15/09/2022 06:26 PM

KUALA LUMPUR, Sept 15 (Bernama) -- PT Resources Holdings Bhd has secured 7,947 applications for 681.51 million new shares from the Malaysian public valued at RM245.34 million, representing an overall oversubscription rate of 24.48 times.

Mercury Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for this initial public offering (IPO), in conjunction with its listing on the Ace market of Bursa Malaysia Securities Bhd.

“For the Bumiputera portion, a total of 4,758 applications for 309.58 million new shares were received, which represented an oversubscription rate of 22.15 times,” PT Resources said in a filing with Bursa Malaysia today.

For the public portion, 3,189 applications for 371.92 million new shares were received, representing an oversubscription rate of 26.81 times.

PT Resources, which is a frozen seafood product processor and trader, said it aimed to raise RM48.6 million from the IPO.

Meanwhile, 13.37 million new shares made available for application by directors, employees and persons who have contributed to the group’s success have also been fully subscribed.

Further, a total of 94.87 million new shares were made available for application by placement to selected investors and selected Bumiputera investors approved by the Ministry of International Trade and Industry (MITI) have been fully placed out.

The notices of allotment will be posted to all successful applicants on or before Sept 23, 2022. 

-- BERNAMA

 


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