(Updated)

YX Precious Metals' IPO for Malaysian public's portion oversubscribed by 26.36 times

YX Precious Metals' IPO for Malaysian public's portion oversubscribed by 26.36 times
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KUALA LUMPUR (June 14): Gold jewellery wholesaler and manufacturer YX Precious Metals Bhd (YXPM), en route to list on the ACE Market of Bursa Malaysia on June 23, saw the public issue of 18.61 million shares for the Malaysian public has been oversubscribed by 26.36 times.

In a statement on Tuesday (June 14), Tricor Investor & Issuing House Services Sdn Bhd said a total of 8,105 applications for 509.16 million new shares worth RM142.57 million were received, for the 18.61 million new shares made available for the Malaysian public.

The IPO exercise comprises a public issue of 111.65 million new shares in YXPM, including 11.16 million new shares for eligible directors and employees of YXPM and Tomei Consolidated Bhd, 18.61 million new shares for all entitled shareholders of Tomei, 16.75 million new shares made available by way of private placement to selected investors, and 46.52 million new shares to selected bumiputera investors approved by the Ministry of International Trade and Industry.

Tricor said for the bumiputera portion, a total of 3,923 applications for 173,552,600 new shares were received, which represents an oversubscription rate of 17.65 times. For the public portion, a total of 4,182 applications for 335.61 million new shares were received, which represents an oversubscription rate of 35.07 times.

The portion made available to eligible directors and employees of YXPM and Tomei has also been fully subscribed.

Tricor also confirmed that the 63.27 million new shares made available by way of private placement have been fully placed out.

The notices of allotment will be posted to all successful applicants by June 21. Public Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the initial public offering (IPO) exercise.

YXPM is seeking to raise RM31.26 million from its IPO.

Kang Siew Li