KUALA LUMPUR (March 13): ATA IMS Bhd said its 57.35 million new placement shares will be issued at RM1.69 each to raise RM96.92 million for the electronic manufacturing service provider.

ATA IMS said in a Bursa Malaysia filing today the RM1.69 issue price represents a discount of approximately 1.87% to the five-day volume weighted average price of ATA IMS shares up to yesterday at RM1.7222 each.

"On behalf of the board, AmInvestment Bank wishes to announce that ATA IMS will be issuing 57,351,000 new ATA IMS shares, representing approximately 5% of the issued and paid-up share capital of ATA IMS as at the date of this announcement following a successful book-building exercise on March 12, 2019.

"The placement attracted strong demand from institutional investors with the order book being oversubscribed close to three times of the total number of new ATA IMS shares available for subscription under the placement exercise," ATA IMS said.

AmInvestment Bank is the sole placement agent for the ATA IMS share placement, according to the group.

At 12:30pm today, ATA IMS shares settled up five sen or 2.94% at RM1.75 with 21,000 units traded.