Friday 29 Mar 2024
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KUALA LUMPUR (June 11): Mi Equipment Holdings Bhd, which is en route to be listed on the Main Market of Bursa Malaysia on June 20, announced today that the public portion of its initial public offering has been oversubscribed.

In a Bursa Malaysia filing, Mi Equipment said 1,967 applications for 28.91 million new shares were received for 25 million new shares that were made available for public subscription, representing a subscription rate of 1.16 times.

Mi Equipment, an equipment maker of wafer level chip scale packaging sorting machines for the semiconductor industry, is issuing 134.428 million new shares at RM1.42 each to raise RM190.87 million.

Under the exercise, besides the 25 million shares being offered to the public, there were 17.5 million shares offered to eligible persons which have also been fully subscribed, the company said.

The remainder 91.928 million shares were fully placed out to identified and approved Bumiputera investors, the filing added.

The IPO also entails 18.52 million existing shares put on offer for sale by shareholders to approved Bumiputera investors, which have also been fully placed out by private placement, the company added.

"All notices of allotment for the IPO shares will be mailed to successful applicants on or before June 19, 2018," Mi Equipment said.

Affin Hwang Investment Bank Bhd is the principal adviser, sole underwriter and sole placement agent.

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