BENALEC Holdings Bhd, which is en route to a main board listing on Bursa Malaysia on Monday, has seen 4.92 times oversubscription for its public issue of 36.5 million shares.
Malaysian Issuing House Sdn Bhd (MIH) said a total of 11,684 applications for 216 million shares were received from the public.
Benalec's listing exercise involves a public issue of 100 million new shares and an offer for sale of 130 million existing shares of 25 sen each at an issue price of RM1 per share.
Of the total, 36.5 million shares are for the Malaysian public, of which at least half is set aside for Bumiputera investors. Another 6.5 million shares are for eligible directors, employees and business associates of Benalec Group; 114 million for private placement; and 73 million for Bumiputera investors, approved by the International Trade and Industry Ministry.
"A total of 4,296 applications for 73.53 million shares were received for the Bumiputera category, which represents an oversubscription of 3.03 times, while under the public category, 7,388 applications for 142.47 million shares were received, which is an oversubscription of 6.8 times," MIH said in a statement.
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