KUALA LUMPUR (March 1): Cape EMS Bhd said its initial public offering (IPO) was oversubscribed by 17.82 times by the Malaysian public, ahead of its listing on the Main Market of Bursa Malaysia on March 10.

A total of 18,526 applications for 869.64 million issue shares worth RM782.68 million were received from the Malaysian public, according to a statement from Cape EMS.

“For the Bumiputera public portion, a total of 6,340 applications for 220.36 million issue shares were received, representing an oversubscription rate of 8.54 times. For the remaining Malaysian public portion, a total of 12,186 applications for 649.29 million shares were received, representing an oversubscription rate of 27.11 times,” Cape EMS said.

Meanwhile, the eight million shares made available to the eligible persons who have contributed to the success of Cape EMS have also been fully subscribed.

Under the institutional offering, the joint-bookrunners, namely Hong Leong Investment Bank Bhd and AmInvestment Bank Bhd, confirmed 205.5 million shares offered to institutional and selected investors, including Bumiputera investors, were fully subscribed.

Cape EMS, formerly known as Cape EMS Manufacturing (M) Bhd, is involved in electronics manufacturing services, aluminium die cast manufacturing and supply of electronic products.

The group said it serves customers from both industrial and consumer sectors mainly from the US, Europe and Asia Pacific markets.

In a statement on Jan 18, Cape EMS said the IPO exercise entails a public issue of 173 million new shares and an offer for sale of 86.7 million existing shares. The enlarged issued share capital will be 923 million shares upon listing.