Salutica IPO’s public portion oversubscribed

PETALING JAYA: Salutica Bhd, en-route for listing on the ACE Market on May 18, saw the public portion of its initial public offering (IPO) shares oversubscribed by 9.98 times.
It received 9,647 applications for a total of 212.99 million Salutica shares made available for the Malaysian public, when there were only 19.4 million shares issued for this portion.
“For the bumiputra portion, a total of 5,211 applicants for 93.37 million issue shares were received which represents an oversubscription rate of 8.63 times,” Tricor Investor & Issuing House Services Sdn Bhd (TIIH) said on behalf of Salutica yesterday.
There were 38.8 million Salutica shares apportioned for bumiputra investors, by way of private placement.
For the public portion, a total of 4,436 applications for 119.62 million shares were received, which represented an oversubscription rate of 11.33 times.
A total of 7.38 million of those shares were clawed back to be reallocated to institutional and identified investors.
TIIH said the 10.1 million shares for institutional and identified investors, 38.8 million shares for bumiputra investors, and 23 million offer shares made available for application by way of placement to institutional and identified investors had been fully placed out.