ACE Market-bound Infomina oversubscribed 21.39 times

PETALING JAYA: Regional technology solutions provider Infomina Bhd, en route to a listing on Bursa Malaysia’s ACE Market on Nov 25, has received an overall oversubscription rate of 21.39 times for its initial public offering (IPO) exercise.

Tricor Investor & Issuing House Services Sdn Bhd said that for the public portion, a total of 5,484 applications for 436.48 million new shares were received, which represents an oversubscription rate of 28.04 times.

For the bumiputra portion, a total of 5,779 applications for 236.75 million new shares were received, representing an oversubscription rate of 14.75 times.

Additionally, 6.01 million new shares which were made available for application by the eligible directors and employees of the group have been fully subscribed.

“The placement agent has confirmed that the 126.26 million shares made available for application by way of private placement have been fully placed out. The notices of allotment will be posted to all successful applicants on or before Nov 23, 2022,” Infomina said in a statement yesterday.

M & A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for this IPO.