KUCHING: Tricor Investor & Issuing House Services Sdn Bhd (TIIH) revealed that the public issue of 8.92 million new public issue shares of Haily Group Bhd (Haily) available for application by the Malaysian public has been oversubscribed by 38.81 times.
A total of 13,367 applications for 355.0999 million new public issue shares with a value of RM241,467,932 were received from the Malaysian public, which represents an overall oversubscription rate of 38.81 times.
For the Bumiputera portion, a total of 6,185 applications for 138.1107 million new shares were received, which represents an oversubscription rate of 29.69 times.
For the public portion, a total of 7,182 applications for 216.9892 million new shares were received, which represents an oversubscription rate of 48.09 times.
Meanwhile, a total of 10 million new public issue shares available for application by the eligible directors and employees of the group and persons who have contributed to the success of the group have also been fully subscribed.
In addition, the placement agent has confirmed that the 5.98 million public issue shares and 5.3 million offer shares made available for application by way of private placement to selected investors have been fully placed out.
In relation to the 5.1 million public issue shares and 12.7 million offer shares made available for application by Bumiputera investors approved by MITI, a total of 2.1593 million shares were not taken up.
Pursuant to the terms set out in the prospectus, the said remaining unsubscribed shares which were initially reserved for Bumiputera investors approved by MITI were clawed-back and reallocated to the Bumiputera public via the balloting process.
“We are delighted to see the strong support from investors for Haily’s shares,” Haily’s executive director See Tin Hai said in his comments on the balloting result.
“This is an encouraging sign as we embark on our next stage of growth as a public-listed company. We believe that the construction industry will show positive signs of recovery towards the second half of 2021, bolstered by the country’s on-going national immunisation programme.
“Thus, we look forward to more developments being revived by property companies which provide the construction sector with more project bidding opportunities especially in the Johor region where Haily is operating.
“However, before that, let us anticipate another key milestone in the pipeline, which is the official listing of Haily on the ACE Market of Bursa Securities on July 21, 2021.”
The notices of allotment will be posted to all successful applicants on or before July 19, 2021.
TA Securities Holdings Bhd is the principal adviser, sponsor, underwriter and placement agent for this IPO exercise.