KUCHING: Palm oil mill manufacturer, Dolphin International Bhd (Dolphin International), which is en route to listing on the main market on June 9, saw its initial public offering (IPO) shares under the public portion, oversubscribed by 6.17 times.
According to a press release, a total of 4,468 applications for 107.6 million IPO shares were received from the Malaysian public for a total of 15 million IPO shares available for public subscription. This represents an oversubscription rate of 6.17 times.
The placement agent has confirmed that the private placement of 22.75 million IPO shares to selected eligible investors and Bumiputera investors approved by the Ministry of International Trade and Industry (Miti) has been placed out.
The Public Issue involves 15 million IPO shares made available for application by the public, of which at least 50 per cent shall be set aside for Bumiputera investors including individuals, companies, societies, co-operations, and institutions.
A total of 8.25 million IPO shares were made available for application by eligible directors and employees and persons who have contributed to the success of the Dolphin Group while 22.75 million IPO shares were made available to selected eligible investors and Bumiputera investors approved by Miti.
Aside from that, 7.5 million IPO shares have been set aside for allotment under the Bumiputera category which represents 50 per cent of the shares offered for public subscription while the balance of 7.5 million IPO shares were allotted under the public category.
A total of 1,892 applications for 44.565 million IPO shares were received for the Bumiputera category which represents an oversubscription of 4.94 times under the public category, 2,576 applications for 63.03 million shares were received for an oversubscription of 7.4 times.
All notices of allotments for these IPO shares will be mailed to successful applicants on or before June 8, 2015.