Stratus Global's Malaysia IPO Oversubscribed 128.8 Times
The Malaysian public portion of Stratus Global Holdings' (KLSE:5356) initial public offering has been oversubscribed by 128.82 times, according to a Tuesday filing with the Malaysian bourse.The semiconductor automation company received 45,065 applications for 3.25 billion shares, valued at about 2.6 billion ringgit. Only 25 million shares were made available to the public at 0.80 ringgit apiece.The public tranche saw an oversubscription rate of 77.65 times for the Bumiputera portion and 179.99 times for the remaining public portion. Meanwhile, the 30 million IPO shares set aside for eligible directors, employees, and corporate contributors were fully subscribed.The overall IPO involves the issuance of 356.25 million new shares to raise 285 million ringgit. Allotment notices will be dispatched to successful applicants on July 20, ahead of the company's Main Market debut on July 21.
