EI Power's IPO Gets Oversubscribed By Nearly 31 Times Ahead of ACE Market Debut
EI Power's (KLSE:EIPOWER) initial public offering (IPO) for listing on the ACE Market of Bursa Malaysia was oversubscribed by 30.77 times by the Malaysian public, according to a Monday Malaysian bourse filing.The company received 21,490 applications for 1.11 billion shares worth 533.7 million ringgit, for the 35 million shares allocated to the public. The Bumiputera portion was oversubscribed by 15.79 times, while the public portion saw an oversubscription rate of 45.75 times.EI Power also said the 17.5 million shares allocated to eligible persons were fully subscribed, while the restricted offering to entitled shareholders of OCK Group (KLSE:OCK) was oversubscribed by 2.2 times.Meanwhile, shares allocated to Bumiputera investors approved by MITI and selected investors under the private placement exercise were fully placed out.
