KUALA LUMPUR (June 18): RT Pastry Holdings Bhd’s shares offered to the public have been oversubscribed by 59.96 times, ahead of the bakery chain operator’s ACE Market debut on June 29.
A total of 9,170 applications for 1.03 billion shares were received for the 16.96 million shares under the initial public offering (IPO), according to a statement on Thursday.
The applications were worth about RM186.1 million based on the IPO price of 18 sen per share.
The Bumiputera public portion was oversubscribed by 20.55 times after attracting applications for 182.71 million shares, while the other Malaysian public portion was oversubscribed by 99.38 times with applications for 851.24 million shares.
The 6.78 million shares reserved for eligible directors, employees and persons who contributed to the company’s success were fully subscribed.
Meanwhile, all 25.42 million shares offered to institutional and selected investors through private placement were fully placed out.
Of the 42.38 million shares initially allocated to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, 9.64 million shares were subscribed. The remaining 32.74 million shares were subsequently fully placed out under the IPO’s clawback and reallocation provisions.
RT Pastry said 35.06 million placement shares were allocated to 54 investors, including 42 Bumiputera investors approved by the ministry.
The largest placee received 8.47 million shares, equivalent to 24.17% of the placement tranche and 2.5% of RT Pastry’s enlarged share capital. The top 10 placees collectively received 66.96% of the placement shares.
None of the placees will emerge as a substantial shareholder of RT Pastry following the IPO.
RT Pastry is raising RM16.48 million from the issuance of 91.54 million new shares. There is no offer for sale by its existing shareholders.
The company plans to use about 46% of the proceeds to open four outlets in the Klang Valley and two in Pahang over the next two years. Another 5% will be used to purchase equipment, while the balance will go towards repaying bank borrowings and covering listing expenses.
The Seri Kembangan-based company currently operates 17 bakery outlets, all located in the Klang Valley.
For the financial year ended Dec 31, 2025, RT Pastry recorded a net profit of RM6 million on revenue of RM60 million.
At the IPO price, the company will have a market capitalisation of about RM61 million upon listing, valuing it at around 10 times its latest annual earnings.
KAF Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.