iCents Group Holdings Bhd has announced a strong response to its initial public offering (IPO), with the exercise oversubscribed by 2.3 times in advance of its scheduled debut on the ACE Market of Bursa Malaysia on 17 July.
The cleanroom and facility services provider confirmed that its IPO comprises a public issue of 112.5 million new ordinary shares priced at RM0.24 each. This represents 22.5% of its enlarged issued share capital and is expected to raise gross proceeds of approximately RM27 million.
In addition to the public issuance, the IPO also includes an offer for sale of 30 million existing shares, equivalent to 6% of the enlarged issued share capital. These shares are being placed privately with selected investors.
iCents disclosed that the 25 million shares allocated to the Malaysian public attracted a total of 1,266 applications for 82.39 million shares. The total value of applications received for this tranche is approximately RM19.77 million.
The company’s forthcoming listing reflects investor confidence in its growth strategy and service offerings within the cleanroom and controlled environment support sector.
-The Star
