Wasco Greenergy Bhd’s upcoming listing on the Main Market of Bursa Malaysia has drawn strong demand, with its public portion oversubscribed by 12.11 times.
According to a report, the company is issuing up to 150 million shares under its initial public offering, comprising an offer for sale of up to 75 million existing shares and a public issue of 75 million new shares.
The IPO consists of an institutional offering of up to 119.5 million shares to Malaysian institutional and selected investors, including Bumiputera investors approved by the Investment, Trade and Industry Ministry.
A further 30.5 million shares have been set aside for eligible directors and employees of the Greenergy Group and Wasco Bhd, entitled shareholders of Wasco and the Malaysian public.
Following the bookbuilding exercise, the institutional price was fixed at RM1.00 per share, which is also the final retail price.
Tricor Investor & Issuing House Services Sdn Bhd said the 10 million shares offered to the Malaysian public received 5,871 applications for 131.13 million shares, valued at RM131.13 million.
Shares allocated to eligible Greenergy and Wasco personnel as well as entitled Wasco shareholders were fully taken up.
