KUALA LUMPUR: Industrial gases manufacturer SIG Gases Bhd's public offer of 7.5 million new shares of 58 sen each under its listing exercise was oversubscribed by 24.1 times.
It said on Monday, Aug 2 that it received 8,508 applications for 187.9 million shares with a total value of RM109.0 million, for the 7.5 million shares.
SIG's listing exercise involved a public issue of 49.2 million new ordinary shares, and an offer-to-sale of 3.0 million shares at 58 sen each. This exercise would raise RM28.54 million.
Of the 49.2 million shares offered, 7.5 million were offered to the Malaysian public, 17.7 million shares for private placement to selected investors, 9.0 million shares for eligible directors, employees and business associates of the Group, and 15.0 million shares for Bumiputera investors.
"Of the total proceeds, RM14.74 million from the proceeds would be allocated for purchase of land and building new facilities, RM6.4 million would be used for purchase of plant, machinery and equipment, RM4.2 million for the repayment of term loan and the balance RM3.2 million to defray listing expenses," it said.
AmInvestment Bank Berhad is the adviser, sole underwriter and sole placement agent for SIG's IPO.
It said on Monday, Aug 2 that it received 8,508 applications for 187.9 million shares with a total value of RM109.0 million, for the 7.5 million shares.
SIG's listing exercise involved a public issue of 49.2 million new ordinary shares, and an offer-to-sale of 3.0 million shares at 58 sen each. This exercise would raise RM28.54 million.
Of the 49.2 million shares offered, 7.5 million were offered to the Malaysian public, 17.7 million shares for private placement to selected investors, 9.0 million shares for eligible directors, employees and business associates of the Group, and 15.0 million shares for Bumiputera investors.
"Of the total proceeds, RM14.74 million from the proceeds would be allocated for purchase of land and building new facilities, RM6.4 million would be used for purchase of plant, machinery and equipment, RM4.2 million for the repayment of term loan and the balance RM3.2 million to defray listing expenses," it said.
AmInvestment Bank Berhad is the adviser, sole underwriter and sole placement agent for SIG's IPO.
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