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Bus Cap's IPO Oversubscribed By 72.2 Times

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Bus Cap's initial public offering has been oversubscribed by 72.24 times, according to a Tuesday Malaysian bourse filing.

The IPO involves a public issue of 107.4 million new shares and an offer for sale of 19.2 million existing shares at an IPO price of 0.23 ringgit per share on Bursa Malaysia's ACE Market.

The public portion attracted 9,992 applications for over 1.40 billion shares, while the Bumiputera tranche was oversubscribed 66.68 times and the remaining public portion 77.81 times.

Shares allocated for eligible directors, employees, and contributors were also fully subscribed.

Meanwhile, selected investors fully subscribed to all shares under private placement, encompassing both issuance and sale offerings.

TA Securities is the principal adviser, sponsor, underwriter, and placement agent for the IPO. The company will issue allotment notices by May 29, it added.

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