KUALA LUMPUR: Smartag Solutions Bhd's initial public offering (IPO) has been
oversubscribed by 268 times, with its public tranche of 2 million shares attracting nearly RM170 million in public funding.
The provider of total radio frequency identification's issue price is 31 sen per share.
The public portion had attracted a total of 11,845 applications for 538.1 million shares with a total value of RM166.8 million.
Smartag is scheduled for listing on ACE Market of Bursa Malaysia Securities Bhd on April 18.
Smartag's IPO entails a public issue of 57 million new shares at 31 each sen.
Of 57 million new shares, 50 million have been allocated for private placement to eligible identified investors, 5 million shares for eligible directors, employees and business associates of the company and the remaining 2 million shares for application by way of balloting to the public.
The IPO will raise RM17.6 million in proceeds for Smartag. Of this, RM8.8 million will be channelled to project-related capital expenditure, RM3.3 million for R&D and related expenditure, RM3.5 million for working capital and RM1.94 million to defray listing expenses, it said.
Source:BTimes
2bz4money: Kegilaan IPO sudah bermula dan memuncak..makin sengit dan makin rendah kebarangkalian berjaya dan nilai yg diterima..