Samaiden IPO 56.5 times oversubscribed

PETALING JAYA: Samaiden Group Bhd’s initial public offering received a total of 15,867 applications for 603.95 million new shares worth RM289.9 million, out of the 10.5 million new shares made available for the public, representing an overall oversubscription rate of 56.53 times.

For the bumiputra portion, a total of 8,735 applications for the 262.7 million shares available were received, which represents an oversubscription of 47.13 times.

The public portion was oversubscribed by 65.91 times, after a total of 7,122 applications for 351.26 million new shares were received.

All the new shares made available to the eligible directors, employees, selected investors and Bumiputera investors have been fully subscribed and placed out.

Alliance Investment Bank Bhd is principal adviser, sponsor, sole underwriter, and placement agent for the IPO.