Keyfield Ipo Public Portion Oversubscribed By 9.69 Times

KUALA LUMPUR, April 5 (Bernama) -- Keyfield International Bhd’s public issue of 40 million shares under its initial public offering (IPO) exercise has been oversubscribed by 9.69 times. 

In a statement to Bursa Malaysia today, Keyfield, which is involved in chartering accommodation vessels, said a total of 9,339 applications for 427.70 million issue shares with a value of RM384.93 million were received from the Malaysian public, which represents an overall oversubscription rate of 9.69 times.

“For the Bumiputera portion, a total of 5,067 applications for 172.62 million issue shares were received, which represents an oversubscription rate of 7.63 times.

“For the public portion, a total of 4,272 applications for 255.08 million issue shares were received, which represents an oversubscription rate of 11.75 times,” it said. 

Meanwhile, it said 24 million issue shares available for application by the eligible directors, employees and crew members as well as persons who have contributed to the success of the Group have also been fully subscribed.

“Further, the joint placement agents have confirmed that the 71,765,100 issue shares available by way of private placement to selected investors, as well as the 73,194,900 issue shares available by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) have been fully placed out,” it said. 

The notices of allotment will be posted to all successful applicants on April 17, 2024.

M & A Securities Sdn Bhd is the principal adviser, underwriter and joint placement agent for this IPO while Maybank Investment Bank Bhd is the joint placement agent. 

-- BERNAMA