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KUALA LUMPUR: MR DIY Group (M) Bhd’s initial public offering of up to 941.49 million shares, comprising 753.09 million existing shares and 188.40 million new shares, was oversubscribed by institutional investors and retailers.
At RM1.60 per share, the home improvement company raised RM1.50bil from the IPO and is scheduled to list on the Bursa Malaysia main market on October 26.
The listing exercise involved the institutional offering of 779.95 million IPO shares to institutional and selected investors from Malaysia and abroad, including approved investors from Bumiputera.
It also included a retail offering of 161.53 million issue shares to directors, eligible employees and their subsidiaries, and the Malaysian public.
Tricor Investor & Issuing House Services Sdn Bhd said in a statement on Friday that the total demand under the institutional offering and the requests received under the retail offering represent a 3.91 times oversubscription of the total 941.49 million shares of the IPO. .
He said that for the institutional offering, the oversubscription was 4.71 times, after receiving significant interest from Malaysian, foreign and selected investors.
For the retail offering, there were requests for 169.93 million issue shares worth RM271.89 thousand from the Malaysian public and eligible individuals.
“For the voting of applications received from the Malaysian public, a total of 9,244 applications were received for 133.93 million issue shares with a value of RM 214.29 thousand, which represents an oversubscription of 0.07 times.
“The 36 million issue shares available for application by eligible individuals were subscribed in full,” he said.
Prominent institutional investors in this exercise include: Aberdeen Standard, AIA, BlackRock, FIL Investment Management, JPMorgan Asset Management and Pictet Asset Management.
These fundamental investors constitute 76% of the institutional supply tranche.
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