KUALA LUMPUR (Nov 12): Impact Capital Holdings Bhd said a total of 24 million shares offered to the Malaysian public by the technology company ahead of its ACE Market debut on Nov 24 were oversubscribed by 139.69 times.

The public portion of its initial public offering (IPO) attracted 15,203 applications for more than 3.37 billion shares, the Kuching-based company said in a statement on Thursday.

Under the Bumiputera public portion, 8,020 applications for 1.63 billion shares were received, representing an oversubscription rate of 135.15 times.

The other Malaysians public portion saw 7,183 applications for 1.74 billion shares received, translating into an oversubscription rate of 144.23 times.

Impact Capital said another 16 million new shares under the public offer allocated to eligible directors, employees and persons who have contributed to the company's success were fully subscribed.

A further 85.31 million new and existing shares offered through private placement to selected investors were also fully placed.

The notice of allotment will be mailed to successful applicants by Nov 19.

The overall IPO comprises 125.31 million shares, including 96.69 million new shares and an offer for sale of 28.62 million existing shares.

Impact Capital is expected to raise RM21.3 million from the public issue of new shares, while its selling shareholders will receive RM6.3 million from the offer for sale, bringing total IPO proceeds to RM27.6 million.

Managing director Winston Chai Fung Chun and executive director Kok Teck Kuan, who are also co-founders of Impact Capital, are among shareholders selling part of their existing stakes under the IPO.

The company is expected to have a market capitalisation of RM105.6 million upon listing. Based on its 2026 financial year net profit of RM9.4 million, the IPO implies a price-to-earnings ratio of 11.2 times.

Public Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.