KUALA LUMPUR — May 11, 2016: LKL International has received an encouraging response when its initial public offering was over subscribed by 92.84 times.
The company informed Bursa Malaysia today that it has received 12,642 applications for 750,732,800 ordinary shares under the Malaysian public portion. The offer totalled 8 million new shares.
For the Bumiputra portion, a total of 6,621 applications for 350,965,700 new shares were received, which represented an over-subscription of 86.74 times. Under the public category, 6,021 applications for 399,767,100 new shares were received for an over-subscription of 98.94 times.
Pursuant to the placement to selected investors, 42.2 million new shares have been allocated for 70 investors while for the placement for Bumiputras approved by the International Trade and Industry Ministry, 40,281,000 new shares were subscribed by 521 investors.
LKl shares are en route to a listing at the Ace Market of the local bourse.