This article first appeared in The Edge Financial Daily, on April 8, 2016.

KUALA LUMPUR: Pecca Group Bhd, which is en route to be listed on the Main Market of Bursa Malaysia on April 19, saw the public issue of its initial public offering (IPO) shares oversubscribed by 13.11 times.

According to its statement filed on Bursa Malaysia yesterday, it received 8,047 applications for 132.64 million new ordinary shares from the Malaysian public for the 9.4 million shares made available, indicating an oversubscription rate of 13.11 times.

Half of these 9.4 million shares were set aside for allotment under the Bumiputera category, which received 4,351 applications for 61.69 million shares, an oversubscription of 12.13 times.

The public category received 3,696 applications for 70.94 million shares, an oversubscription rate of 14.09 times.

“The balloting of successful applicants was conducted this afternoon (yesterday), and the joint placement agents have confirmed that the private placement of 53.53 million new shares to selected investors have been fully placed out,” read Pecca’s statement.

The principal adviser for the IPO is AmInvestment Bank Bhd. Pecca’s tentative listing date is April 19.

Its IPO involves a public offering of 47.796 million new ordinary shares at an issue price of RM1.42 per share, of which 9.4 million shares are for the public, another 9.4 million for eligible directors, employees and business associates of Pecca and its subsidiaries, and 29 million for selected placements.

As for the offer for sale involving 43.33 million shares at an offer price of RM1.42 per share, 24.53 million of these shares were reserved for private placement to selected investors, and 18.88 million shares were made available by way of placement to Bumiputera investors approved by the Ministry of International Trade and Industry.