Greatech IPO oversubscribed by 9.41 times

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KUALA LUMPUR (May 28): Greatech Technology Bhd's public portion of its initial public offering (IPO) has been oversubscribed by 9.41 times.

In a statement, it said 5,930 applications were received from the Malaysian public.

Greatech's IPO comprises 18.78 million shares at an issue price of RM0.61 per share.

A total of 9.39 million shares have been set aside for allotment under the Bumiputera category, representing 50 percent of shares offered for public subscription, while the balance of 9.39 million shares were allotted under the public category.

"A total of 2,734 applications for 73.02 million issue shares were received under the Bumiputera category, representing an oversubscription of 6.78 times.

"Under the public category, 3,196 applications for 122.45 million shares were received for an oversubscription of 12.04 times," it said.