COVID–19 NEWS   Owners of premises in buildings allowed to determine protocol on wearing of face mask at their venue - Johor Exco | Italy greenlights Omicron-adapted COVID-19 booster shots | New COVID-19 cases down 16.9 pct last week | Japan to simplify COVID-19 airport quarantine procedures | EMA endorses Omicron-adapted COVID-19 vaccines | 
BUSINESS

Public portion of AGMO's IPO oversubscribed by 120.15 times

10/08/2022 07:17 PM

KUALA LUMPUR, Aug 10 (Bernama) — The public portion of Agmo Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 120.15 times.

In a statement today, the company said a total of 14,277 applications for 1.96 billion new shares were received from the Malaysian public, representing an oversubscription rate of 120.15 times. 

“The IPO comprises a public issue of 85 million new ordinary shares made available for application.

“In which 16.25 million new shares are available for application by the public; 500,000 new shares for eligible directors, key senior management, employees and business associates and its subsidiaries; as well as 62.25 million new shares available for private placement to selected investors,” it said.

Agmo, which is a homegrown digital solutions and application development specialist, added that 5,309 applications for 585.39 million new shares were received under the Bumiputera category, representing an oversubscription rate of 71.05 times.

Meanwhile, 8,968 applications for 1.38 billion new shares were received under the other public category, representing an oversubscription rate of 169.25 times.

Meanwhile, 6.50 million new shares available for application by eligible directors, key senior management, employees, and business associates of Agmo and its subsidiaries were fully subscribed.

Kenanga Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO exercise.

Agmo aims to raise RM22.10 million from its IPO following its listing on Bursa Malaysia’s ACE Market slated for Aug 18, 2022.

At an issue price of 26 sen per share and enlarged share capital of 85 million shares, the group will have a market capitalisation of RM84.5 million upon listing.

— BERNAMA

 

 


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy