Matrix Concept's public offer of 10m new share oversubscribed

KUALA LUMPUR: Negri Sembilan-based property developer Matrix Concepts Holdings Bhd's public offer of 10 million new shares of RM2.20 each was oversubscribed 11.3 times.
It
said on Friday it received 12,043 applications for 123.2 million shares
with a total value of RM270.9 million for the 10.0 million new shares.
The initial public offer involved a public issue of 62.5 million new shares and an offer for sale of 37.5 million vendor shares.
It is en-route to a listing on the Main Market of Bursa Malaysia Securities Bhd on May 28.
The
IPO was to raise RM137.50mil, of which RM55mil would be for the
construction of infrastructure, RM55mil for working capital and RM10mil
for the construction of the 1Sendayan Clubhouse.
Chairman Datuk Mohamad Haslah
said the response marked the investors' confidence on its capability to
tap into the Klang Valley conurbation that includes Seremban as a
satellite city.
"We would also like to extend our gratitude to Hong Leong Investment Bank Bhd and Kenanga Investment Bank Bhd for helping us to make our IPO a great success," he said.
Hong
Leong is the principal adviser, managing underwriter, co-underwriter
and co-placement agent for the IPO, while Kenanga is the co-underwriter
and co-placement agent