Main Market-Bound Feytech IPO Public Portion Oversubscribed

Feytech Holdings Bhd has announced that the 42.16 million issue shares made available for application by the Malaysian public under its initial public offering (IPO) exercise en route to a listing on Bursa Malaysia’s Main Market on May 21, 2024, have been oversubscribed.

In a filing with Bursa Malaysia today, Tricor Investor and Issuing House Services Sdn Bhd (TIIH) said a total of 14,687 applications for 701.36 million shares with a value of RM561.09 million were received from the Malaysian public, representing an overall oversubscription rate of 15.64 times.

"For the Bumiputera portion, a total of 7,898 applications for 265.61 million shares were received, which represents an oversubscription rate of 11.60 times.

"For the remaining Malaysian public portion, a total of 6,789 applications for 435.76 million issue shares were received, with an oversubscription rate of 19.67 times,” it said.

Furthermore, joint placement agents have confirmed that 75.87 million shares and 4.22 million offer shares made available by way of private placement to selected investors and the 105.40 million offer shares made available by way of private placement to bumiputera investors approved by the Ministry of Investment, Trade and Industry, have been fully placed out, TIIH said.

Feytech’s IPO of 252.94 million ordinary shares would comprise the public issue of 143.32 million new shares and an offer for sale of 109.62 million existing shares at 80 sen a share.

"The notices of allotment will be posted to all successful applicants on May 17, 2024,” it added. - Bernama