Polymer Link's IPO oversubscribed 48.74 times

Sunday 20 Sep 2026

Make The Edge Malaysia your preferred source on Google

KUALA LUMPUR (Nov 13): Plastic manufacturer Polymer Link Holdings Bhd, en route to list on the ACE Market of Bursa Malaysia on Nov 25, saw the public portion of its initial public offering (IPO) oversubscribed by 48.74 times.

Polymer Link's IPO comprises 121.23 million shares, including a public issue of 97.15 million new shares and an offer for sale of 24.08 million existing shares. It expects to raise RM24.3 million through the public issue at the IPO price of 25 sen per share.

In a statement on Thursday, Klang-based Polymer Link said a total of 11,360 applications for 1.39 billion shares, valued at RM348.21 million, were received from the public.

For the Bumiputera portion, a total of 6,238 applications for 718.59 million shares were received, representing an oversubscription rate of 50.33 times.

For the public portion, a total of 5,122 applications for 674.25 million shares were received, representing an oversubscription rate of 47.16 times.

Meanwhile, 4.44 million shares made available for application by eligible persons have also been fully subscribed.

The sole placement agent Hong Leong Investment Bank Bhd (HLIB) confirmed that 88.79 million IPO shares made available through private placement to selected investors have been fully taken up.

Polymer Link specialises in the formulation, compounding and grinding of plastic powder for both general and specialty applications. The group achieved a key milestone with its listing on the LEAP Market of Bursa on April 27, 2018, before voluntarily delisting on Dec 9, 2020 to streamline its business operations.

"The proceeds raised will support our manufacturing capacity expansion, drive product innovation, and position us for sustainable long-term growth," said Polymer Link executive vice-chairman, president and group chief executive officer Koh Song Heng.

HLIB is the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO, while DWA Advisory Sdn Bhd is the financial adviser.

Edited ByKang Siew Li

Text Size