KUALA LUMPUR (Jan 24): The public portion of metal fabricator Wentel Engineering Holdings Bhd’s initial public offering (IPO) was oversubscribed by 17.72 times against the proposed 57,500,000 issue shares.

A statement by the placement agent, Tricor Investor & Issuing House Services Sdn Bhd on Wednesday stated that a total of 10,430 applications for 1,076,196,900 issue shares with a value of RM279,811,194.00 were received from the Malaysian public.

Also, the 33,000,000 issue shares made available for application by the eligible directors, employees and other persons who have contributed to the success of the group have also been fully subscribed.

The 38,950,000 issue shares and 46,000,000 offer shares made available by way of private placement to selected investors, as well as the 143,750,000 issue shares made available by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, have all been fully placed out, it added.