ACE Market-bound RT Pastry's IPO Oversubscribed By 59.96 Times

KUALA LUMPUR, June 18 (Bernama) -- RT Pastry Holdings Bhd’s initial public offering (IPO) shares made available to the Malaysian public have been oversubscribed by 59.96 times ahead of its scheduled listing on the ACE Market of Bursa Malaysia on June 29.

In a Bursa Malaysia filing today, the pastry and bakery products company said it received 9,170 applications for 1.03 billion issue shares from the Malaysian public, resulting in an overall oversubscription rate of 59.96 times.

“Specifically, a total of 2,303 applications for 182.70 million issue shares were received for the Bumiputera portion, representing an oversubscription rate of 20.55 times.

“Meanwhile, a total of 6,867 applications for 851.23 million issue shares were received for the other Malaysian public portion, representing an oversubscription rate of 99.38 times,” it said.

Additionally, RT Pastry said that 6.78 million issue shares made available for application by the eligible persons have been fully subscribed. 

The company said that in relation to the 42.38 million issue shares made available by way of private placement to identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI), an aggregate of 9.64 million issue shares was subscribed by Bumiputera investors.

“The remaining 32.74 million issue shares. which were initially reserved for application by Bumiputera investors approved by MITI, have been fully placed out after applying the relevant clawback and reallocation provisions as set out in the prospectus,” it said.  

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

-- BERNAMA