Did you win when you oversubscribed by Kucingko by 99 times?

According to a statement on Tuesday, the company received a total of 0.02 million1,929 applications from the public, subscribing up to 2.5 billion 0.5 million7,000 shares, with an average oversubscription of 99.02 times.

Among them, the indigenous portion received 72,742 applications, subscribed 0.8 billion22.42 million7600 shares, which was an oversubscription of 64.79 times, while the public sector received 0.01 million4687 applications and subscribed 1.6 billion78.07 million9400 shares, which was an oversubscription of 133.25 times.

Additionally, the company's 10 million shares reserved for eligible directors and employees, as well as private placement, have also been fully subscribed.

The company's initial offering price was 30 cents per share, aiming to raise RM30 million, mainly to expand production capacity, including setting up a branch in East Malaysia at RM17.77 million (59.22%).

In addition, the company will also spend RM4.4 million (14.59%) to set up an office in Los Angeles, USA, and the remaining RM4.26 million (14.19%) will also be used as working capital.

The company has a 22-year history in the field of 2D animation, focusing mainly on foreign markets. In addition to traditional TV shows, the animation it produces also includes streaming platforms.