12 Jul 2013 11:19

KUALA LUMPUR, July 9 (Bernama) -- ABM Fujiya Bhd's initial public offering (IPO), involving 10.5 million shares available for public application, has been oversubscribed 9.77 times.

Malaysian Issuing House Sdn Bhd said a total of 6,167 applications, for 113.06 million shares, were received from the public for the IPO which involved 5.25 million shares, or 50 per cent of the total public offering, allotted for Bumiputera and 5.25 million shares for public subscription.

"A total of 2,171 applications for 34.26 million shares were received for the Bumiputera category, representing an over subscription of 5.53 times, while under the public category, 3,996 applications for 78.79 million shares were received for an over subscription of 14.01 times," it said in a statement today.

Balloting of successful applications was conducted today and all notices of allotment for the shares will be mailed to successful applicants on or before July 22.

Apart from the public issue, 10 million shares were made available for selected investors via private placement, 4.5 million shares for eligible employees and business associates and seven million shares for Bumiputera investors approved by the Ministry of International Trade and Industry.

The Kuching-based automotive battery manufacturer is enroute for a Main Market listing on Bursa Malaysia on July 23 at 60 sen per share.