KUALA LUMPUR: ACE Market-bound 3REN Bhd's public issue of 32.5 million shares made available for application by the Malaysian public has been oversubscribed by 84.06 times.

It said in a filing with Bursa Malaysia that a total of 25,768 applications for 2.76 billion public issue shares were received for the 32.5 million public issue shares made available for subscription,

It said 16.25 million public issue shares have been set aside for the bumiputera portion, which represents 50 per cent of the public issue shares available for public subscription, while the remaining public issue shares were allotted under the public portion.

"For the bumiputera portion, a total of 13,097 applications for 1.18 billion public issue shares were received, which represents an oversubscription rate of 71.69 times.

"For the public portion, a total of 12,671 applications for 1,583,386,000 public issue shares were received, which represents an oversubscription rate of 96.44 times," it said. 

Meanwhile, the company said the 30 million public issue shares made available for application by the eligible parties have been fully subscribed.

"A total of 48.8 million initial public offering (IPO) shares (comprising 3.8 million public issue shares and 45 million offer shares) made available by way of private placement for bumiputera investors approved by the Ministry of Investment, Trade and Industry have been fully placed out.

"While 43.7 million public issue shares made available by way of private placement to selected investors have been fully placed out by the sole placement agent," it added. 

- BERNAMA

TAGS: ACE Market, IPO, Oversubscribed, 3REN, Bursa Malaysia