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Liftech's IPO Gets Oversubscribed By 19 Times

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Liftech's (KLSE:LIFTECH) said its initial public offering drew strong demand from retail investors ahead of its ACE Market listing, as it was oversubscribed by 18.9 times.

The company received 5,636 applications for 314.7 million shares worth 91.3 million ringgit, compared with 15.8 million shares allocated to the Malaysian public, according to a Friday Malaysian bourse filing.

The Bumiputera and public portions were oversubscribed by 19.5 times and 18.4 times, respectively, the industrial lifting and handling equipment specialist said.

Meanwhile, shares allocated to eligible persons, Bumiputera investors approved by MITI, and selected investors under private placements were fully subscribed or placed out, the company said.

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