PETALING JAYA: The public portion of marine transport company Orkim Bhd’s initial public offering (IPO) has been oversubscribed, reflecting strong investor confidence in the group’s prospects.
The public balloting for the IPO was conducted today, with encouraging participation from both retail and institutional investors, marking another key milestone in Orkim’s journey towards its listing on the Main Market of Bursa Malaysia.
The group received a total of 6,767 applications for 256.8 million shares, corresponding to the 20 million shares made available for application by the Malaysian public, representing an oversubscription rate of 11.84 times.
The Bumiputera portion attracted 3,430 applications for 120.1 million shares, oversubscribed by 11.01 times, while the remaining public portion recorded 3,337 applications for 136.7 million shares, oversubscribed by 12.67 times.
The 8 million shares reserved for eligible directors, employees, and persons who have contributed to the group’s success, together with the institutional offering, were also fully subscribed.
Orkim chairman Datuk Abdul Hamid Sh Mohamed said the company is encouraged by the strong support and confidence shown by investors. The oversubscription reflects market recognition of Orkim’s track record, capabilities, and resilience.
“As we approach our listing, our focus remains on strengthening our fleet, driving operational efficiency through technology, and expanding our service offerings to support Malaysia’s energy and maritime logistics ecosystem.
“We will continue to uphold the highest standards of safety, compliance, and governance as we steer Orkim toward long-term, sustainable growth,“ he said in a statement.
CIMB Investment Bank Bhd is the principal adviser, joint bookrunner, managing underwriter and joint underwriter for this IPO.
RHB Investment Bank Bhd acts as the joint bookrunner and joint underwriter, while Affin Hwang Investment Bank Bhd is the joint underwriter.
