KUALA LUMPUR: ACE Market-bound frozen seafood company, Ocean Fresh Bhd’s initial public offering (IPO) has been oversubscribed by 76.22 times.
The group’s IPO exercise consists of issuing 50.05 million new ordinary shares at an issue price of 28 sen per share. It is expected to be listed on July 4, 2024 on Bursa Malaysia.
“A total of 16,177 applications for 811.54 million new shares were received from the Malaysian public, representing an overall oversubscription rate of 76.22 times,” it said in a statement.
The Bumiputera public portion of shares was oversubscribed 65.68 times, with 8,654 applications for 350.39 million new shares received.
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