Saturday, July 20

I-Stone Group’s Malaysian public oversubscribed by 11.56 times

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KUCHING: I-Stone Group Bhd’s (I-Stone) initial public offering (IPO) saw an oversubscription rate of 11.56 times.

The IPO exercise comprise a public issue of 244,296,000 new shares and an offer for sale of 122.148 million existing shares.

“A total of 6,522 applications for 767,299,400 new shares with a value of RM122,767,904 were received from the Malaysian public for 61,074,000 new shares made available for application by the Malaysian public, which represents an overall oversubscription rate of 11.56 times,” it said in a statement.

“For the Bumiputera portion, a total of 2,762 applications for 213,613,800 New Shares were received, which represents an oversubscription rate of 6.00 times.

“For the public portion, a total of 3,760 applications for 553,685,600 New Shares were received, which represents an oversubscription rate of 17.13 times.”

The 12,215,000 new shares available for application by the eligible directors and employees have also been fully subscribed.

In addition, the placement Agent has confirmed that the 293,155,000 Shares made available for application by way of private placement to selected investors and Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia have been fully placed out.