KUALA LUMPUR (Sept 21): Die-cutting solutions provider CEKD Bhd’s initial public offering (IPO) of up to 50.59 million new shares at an issue price of 48 sen per share was oversubscribed, with the public portion of the listing oversubscribed by 131.61 times.

In a statement today, the ACE Market-bound group said it received a total of 18,884 applications for 1.29 billion new shares.

Meanwhile, a total of 10,413 applications for 593.59 million new shares were received for the Bumiputera portion, representing an oversubscription rate of 121.03 times, while under its other Malaysian public category, it received 8,471 applications for 696.59 million new shares, representing an oversubscription rate of 142.2 times.

The 9.73 million new shares made available for application by eligible directors and employees of the group as well as other persons who have contributed to the success of the group were fully subscribed. 

Additionally, CEKD said the 31.13 million shares made available for application by way of private placement has also been fully placed out.

“The notices of allotment will be posted to all successful applicants on or before Sept 28, 2021,” it added.

M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO exercise.

CEKD is scheduled to list on Sept 29.