KUALA LUMPUR: Eversendai Corporation Bhd's final institutional price has been fixed at RM1.70 and the final retail price at RM1.62.
Maybank Investment Bank Bhd said on Thursday, June 23 the institutional offering of 202.04 million shares was oversubscribed by 2.5 times under its bookbuilding exercise. The shares offered to the public was 7.3 times oversubscribed.
Maybank IB, which was the sole adviser, underwriter and bookrunner, said the institutional book opened for subscription on June 15 and closed on Tuesday, June 21. It is due to list on the Main Market of Bursa Malaysia on July 1.
Maybank IB chief executive officer Tengku Datuk Zafrul Tengku Aziz said Eversendai's track record included constructing iconic projects such as the Petronas Twin Tower 2, Burj Khalifa, Burj Al Arab, and the Capital Gate Building.
'The strong investor demand at a time of weak market sentiment globally is testament to the company's strength and bright prospects,' he said.
Tengku Zafrul said Eversendai will be the only listed structural steel CONSTRUCTION [] company, and one of the largest listed construction companies in Malaysia.
Eversendai executive chairman and group managing director Datuk A.K. Nathan said in view of the demand, the institutional price was fixed at RM1.70.
The final retail price shall be the lower of RM1.70 or 95% of the institutional price and hence, fixed at RM1.62, he said.
Maybank Investment Bank Bhd said on Thursday, June 23 the institutional offering of 202.04 million shares was oversubscribed by 2.5 times under its bookbuilding exercise. The shares offered to the public was 7.3 times oversubscribed.
Maybank IB, which was the sole adviser, underwriter and bookrunner, said the institutional book opened for subscription on June 15 and closed on Tuesday, June 21. It is due to list on the Main Market of Bursa Malaysia on July 1.
Maybank IB chief executive officer Tengku Datuk Zafrul Tengku Aziz said Eversendai's track record included constructing iconic projects such as the Petronas Twin Tower 2, Burj Khalifa, Burj Al Arab, and the Capital Gate Building.
'The strong investor demand at a time of weak market sentiment globally is testament to the company's strength and bright prospects,' he said.
Tengku Zafrul said Eversendai will be the only listed structural steel CONSTRUCTION [] company, and one of the largest listed construction companies in Malaysia.
Eversendai executive chairman and group managing director Datuk A.K. Nathan said in view of the demand, the institutional price was fixed at RM1.70.
The final retail price shall be the lower of RM1.70 or 95% of the institutional price and hence, fixed at RM1.62, he said.
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