KUALA LUMPUR (April 27): Autocount Dotcom Bhd said its initial public offering (IPO) was oversubscribed by 167 times by the Malaysian public, ahead of its listing on Bursa Malaysia’s ACE Market on May 9. 

In a statement, the group said a total of 35,436 applications for 4.62 billion new shares were received for the 27.525 million shares made available to the Malaysian public. 

Meanwhile, a total of 12,808 applications for RM1.55 billion new shares were received under the Bumiputera portion, representing an oversubscription rate of 111.3 times. 

Autocount said a sum of 22,628 applications for 3.08 billion new shares were received under the other Malaysian public portion. This represents an oversubscription rate of 222.7 times. 

“In addition, the 11.01 million issue shares made available for application by the eligible persons have been fully subscribed. 

“Malacca Securities Sdn Bhd, as the principal adviser, sponsor, underwriter and placement agent has confirmed that the 55.05 million new shares and 44.04 million existing shares [that] were made available for application by way of private placement have been fully placed out to selected investors,” the group added. 

Autocount is principally involved in the development and distribution of financial management software comprising accounting, point-of-sale (POS) and payroll. 

Under its listing exercise, Autocount aims to raise RM30.88 million from its public issue of 93.59 million new shares at an issue price of 33 sen per share.  

The notices of allotment will be mailed to all successful applicants by May 9, according to the group.