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NewsSolid Automotive oversubscribed 9.83 times
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Solid Automotive oversubscribed 9.83 times
by Cals Wed 04 Sep 2013, 07:24
Published: Wednesday September 4, 2013 MYT 12:00:00 AM
Updated: Wednesday September 4, 2013 MYT 6:42:13 AM
Solid Automotive oversubscribed 9.83 times
KUALA LUMPUR: Solid Automotive Bhd’s initial public offering (IPO) available for the Malaysian public subscription has been oversubscribed by 9.83 times.
The company said a total of 4,100 applications for 81.224 million shares with a value of RM45.49mil were received from the Malaysian public.
Meanwhile, the bumiputra portion received a total of 1,574 applications for 29.86 million shares, representing an oversubscription rate of 6.96 times.
“For the public portion, a total of 2,526 applications for 51.364 million shares, an oversubscription rate of 12.7 times, were received,” it said in a statement.
In addition, a total of 4.031 million unsubscribed shares by the bumiputra investors under the Minister of International Trade and Industry tranche have been made available for application by the bumiputra public, as set out in the prospectus on Aug 19.
The Johor Baru-based company’s business is in the automotive after-market parts and components trading. – Bernama
Updated: Wednesday September 4, 2013 MYT 6:42:13 AM
Solid Automotive oversubscribed 9.83 times
KUALA LUMPUR: Solid Automotive Bhd’s initial public offering (IPO) available for the Malaysian public subscription has been oversubscribed by 9.83 times.
The company said a total of 4,100 applications for 81.224 million shares with a value of RM45.49mil were received from the Malaysian public.
Meanwhile, the bumiputra portion received a total of 1,574 applications for 29.86 million shares, representing an oversubscription rate of 6.96 times.
“For the public portion, a total of 2,526 applications for 51.364 million shares, an oversubscription rate of 12.7 times, were received,” it said in a statement.
In addition, a total of 4.031 million unsubscribed shares by the bumiputra investors under the Minister of International Trade and Industry tranche have been made available for application by the bumiputra public, as set out in the prospectus on Aug 19.
The Johor Baru-based company’s business is in the automotive after-market parts and components trading. – Bernama
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