$KUCINGKO (0315.MY)$ kucingko IPO over subscribed 99 times[G...

Kucingko's IPO Oversubscribed by 99.02 TimesKucingko,an animation production company,is set to become the first of its kind to list on the Main Market of Bursa Malaysia on July 26,2024.The company's initial public offering (IPO) has been oversubscribed by 99.02 times,with a total of 25.51 million shares applied for against 2.5 million shares offered.The IPO is expected to raise RM30 million for Kucingko.The company's IPO has been well-received by all categories of investors,with bumiputra investors oversubscribing by 67.49 times,other public investors oversubscribing by 133.25 times,and existing shareholders fully subscribing to their allocated shares.Kucingko's IPO is being managed by Kenanga Investment Bank Berhad as the principal advisor,underwriter,sole bookrunner,and sole placement agent.Kucingko's shares will be traded on the ACE Market of Bursa Malaysia.The company's IPO is expected to be a boost for the Malaysian animation industry.Kucingko plans to use the proceeds from the IPO to expand its business and invest in new technologies.

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