Gas Malaysia's 25.68m shares oversubscribed 21.64 times

KUALA LUMPUR: Gas Malaysia Bhd's offering of 25.68 million shares to the public under its listing exercise was oversubscribed by 21.64 times.

Malaysian Issuing House (MIH) said on Tuesday there were 44,561 applications for 581.39 million shares from the public for the 25.68 million shares.

Of the 25.68 million shares, MIH said 12.84 million offer shares were set aside for Bumiputera individuals, companies, co-operatives, societies and institutions. MIH said there were 15,034 applications for 175.62 million offer shares was received under the Bumiputera category, or an oversubscription of 12.68 times.

Under the public category, there were 29,527 applications for 405.76 million offer shares, representing an oversubscription of 30.60 times.

It also said the sole bookrunner Maybank Investment Bank Bhd had confirmed that the institutional offering of 303.31 million offer shares was completed.

"The institutional price was fixed at RM2.20 per offer Share. Accordingly, the final IPO price for the retail offering is fixed at RM2.20 per offer share," said MIH.
Maybank Investment Bank was also the principal adviser and joint underwriter for the IPO. The other joint underwriters were Bank Muamalat Malaysia Bhd and Kenanga Investment Bank Bhd.

The listing exercise involved the offer for sale by the vendors of 333.84 million shares, of which 147.67 million shares were to Bumiputera institutional and selected investors approved by the Ministry of International Trade and Industry.

The remaining 155.63 million shares were offered to institutional and selected investors; 4.84 million shares were reserved for eligible directors and employees of Gasa Malaysia and 25.68 million shares to the public.

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