KUALA LUMPUR (May 6): Healthcare furniture and equipment manufacturer LKL International Bhd, which is scheduled to list on the ACE market of Bursa Malaysia on May 16, saw the public issue of its shares oversubscribed by 92.84 times.

In a statement today, it was revealed that a total of 12,642 applications for 750.73 million new shares were received from the Malaysian public for the 8 million shares available, indicating an oversubscription rate of 92.84 times.

Of this, a total of 6,621 applications for 350.96 million new shares were received for the Bumiputera category, representing an oversubscription rate of 86.74 times, while under the public category, 6,021 applications for 399.77 million new shares were received for an oversubscription rate of 98.94 times.

"The placement agent has confirmed that the private placement of 42.2 million new shares to selected investors has been fully placed out," read LKL's statement.

The public issue involved 113 million new shares, of which 8 million were made available to the public, of which 4 million were allocated to Bumiputera investors; 13.2 million new shares were available for subscription by eligible directors, employees and persons who have contributed to the success of LKL; 42.2 million new shares were for placement to selected investors; and 49.6 million new shares were available for placement to Bumiputera investors approved by the Ministry of International Trade and Industry (MITI).

Pursuant to the terms of the prospectus, 9.32 million new shares initially reserved for Bumiputera investors approved by MITI were clawed back and made available to the Malaysian public under the Bumiputera category via balloting.