KUALA LUMPUR (July 7): iCents Group Holdings Bhd, slated for listing on the ACE Market of Bursa Malaysia on July 17, said the 25 million new shares it offered to the Malaysian public under its initial public offering (IPO) have been oversubscribed by 2.3 times.
The shares were part of the 142.5 million shares offered under the IPO, comprising 112.5 million new shares and an offer for sale of 30 million shares at 24 sen each.
iCents, which builds cleanrooms for data centres and pharmaceuticals, on Monday said it received a total of 1,266 applications for 82.39 million shares worth RM19.77 million for the 25 million shares offered to the public.
The Bumiputera category received only 385 applications for 9.75 million shares, and the balance has been clawed back and re-allocated to the other public category, the company said in a statement.
For the other public category, 881 applications were received for 72.65 million shares, representing an oversubscription rate of 4.81 times.
Another 10 million new shares that were made available for application by eligible persons have also been fully taken up, said iCents.
Meanwhile, the private placement of 62.5 million new shares to identified Bumiputera investors has been fully placed out after applying clawback and reallocation provisions. Another 15 million new shares and 30 million existing shares to selected investors have also been fully placed out, the company said.
iCents said the notices of allotment will be posted to all successful applicants on July 14.
iCents is mainly involved in providing cleanroom services, including engineering, procurement, construction and testing and commissioning of cleanrooms catering to semiconductor and electronics manufacturing, data centres, pharmaceuticals and life sciences sectors.
The company is seeking to raise up to RM27 million from the IPO to purchase new machinery and equipment as well as expand its business in Negeri Sembilan, Indonesia, Singapore and Sarawak.
The 112.5 million new shares, offered at 24 sen each, would represent 22.5% of the company's enlarged share capital of RM120 million upon listing.
Meanwhile, the 30 million shares offered for sale is expected to generate RM7.2 million, which will go entirely to iCents managing director Vincent Ong Mum Fei, executive directors Foo Siang Leng and Tan Wei Ying.
Alliance Islamic Bank is the principal adviser, sponsor, sole underwriter, and placement agent for the IPO.