Colform Group (KLSE:COLFORM) said the public portion of its initial public offering (IPO) on the ACE Market of Bursa Malaysia was oversubscribed by 41.82 times.
The IPO comprises 114.4 million new shares and an offer for sale of 54 million existing shares, according to a Monday prospectus filed on Bursa Malaysia.
The steel manufacturer received a total of 19,669 applications for 1.28 billion shares.
The Bumiputera portion saw an oversubscription rate of 33.59 times, while the remaining public portion was oversubscribed by 50.05 times.
Additionally, 6 million shares allocated to eligible directors and employees were fully subscribed.
The private placement of 132.4 million shares, including those allocated to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI), are also fully placed out, it added.
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