EGH International's IPO oversubscribed 2.63 times ahead of ACE Market listing
Bernama
EGH International Bhd's initial public offering (IPO) has seen an impressive 2.63 times oversubscription from the Malaysian public for the 50 million shares offered, according to a recent press release. The company, based in Puchong, Selangor, specializes in interior fit-out services, furniture sales, and the supply of building materials for a range of clients including hotels, resorts, healthcare facilities, educational institutions, and airport lounges.
Berjaya Securities Sdn Bhd filed the IPO details with Bursa Malaysia, revealing a strong demand. Of the 131.33 million shares offered, the Malaysian public applied for 3,101 shares, resulting in a subscription rate of 2.63 times, while the Bumiputera portion saw a 1.64 times subscription. The IPO also allocated 30 million shares for eligible group directors and employees and 30 million for general public, all of which have been fully subscribed.
The company's IPO is divided into 80 million shares for the retail offering and up to 280 million shares for the institutional offering through private placement. Berjaya Securities is handling the principal advisory, sponsorship, underwriting, and placement for the IPO, confirming the full placement of all shares offered to institutional and selected investors.
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