FINWIRES · TerminalLIVE
FINWIRES

Eckem Holdings' IPO Gets Oversubscribed By 8.1 Times

By

Eckem Holdings (KLSE: ECKEM) said its initial public offering drew strong demand from retail investors ahead of its ACE Market listing, as it was oversubscribed by 8.1 times, according to a Wednesday Malaysian bourse filing.

The company received 5,152 applications for a little over 284 million shares worth 34.1 million ringgit, compared with 31.3 million shares allocated to the Malaysian public.

The Bumiputera and public portions were oversubscribed by 4.2 times and 11.9 times, respectively, the specialty industrial chemical and rubber product maker said.

Meanwhile, shares allocated by way of private placement to eligible employees and directors of the company, Bumiputera investors approved by the MITI, and selected investors were fully placed out.

Related Articles

Asia

Market Chatter: Toyota to Reduce Overseas Output Amid Hormuz Closure

Toyota Motor (TYO:7203) will slash production outside Japan by about 100,000 units by around February 2027 as the de facto closure of the Strait of Hormuz affects demand overseas, Nikkei Asia reported Wednesday.The automotive giant will also slash electric vehicle production for China, the report said.Toyota did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:7203
Asia

Update: Comet Ridge Secures Commitments for AU$40 million Placement; Shares Hit Five-Year Low

(Updates with the stock movement in the headline and last paragraph.)Comet Ridge (ASX:COI) received firm commitments for a two-tranche placement of new shares to existing and new investors to raise AU$40 million, according to a Wednesday Australian bourse filing.It plans to issue 390.2 million fully paid ordinary shares at an issue price of AU$0.1025 per share. The first tranche seeks to raise around AU$30.6 million utilising the company's capacity, while the second tranche seeks to raise around AU$9.4 million, subject to shareholder approval.It also plans to offer eligible shareholders the opportunity to participate via a share purchase plan to raise up to an additional AU$5 million.Comet Ridge shares declined nearly 22% in recent Wednesday trade and earlier hit their lowest level since July 2021.

ASX:COI
Asia

Gentrack Group Completes Dubai Technology Partners Acquisition

Gentrack Group (ASX:GTK, NZE:GTK) completed its acquisition of airport technology and services provider Dubai Technology Partners, according to a Wednesday filing with the Australian bourse.Dubai Technology Partners has around 60 employees and will be integrated into Gentrack's Veovo airports division, the company said.

ASX:GTKNZE:GTK