KEB IPO fully subscribed ahead of Nov 16 listing
KUALA LUMPUR: KEB Bhd’s initial public offering (IPO) has been fully subscribed ahead of its listing on the ACE Market on Nov 16.
KEB Bhd's initial public offering (IPO) has been fully subscribed ahead of its planned listing on the ACE Market on November 16, according to a report by New Straits Times. The company issued 226.78 million shares, with 138.54 million new shares offered to the public and 88.24 million existing shares sold through an offer for sale.
The IPO attracted significant interest, receiving 2,126 applications for 44.47 million shares from Malaysian public investors, which were all fully subscribed. KEB's managing director, Datuk Lim Kim Chong, attributed the strong response to investor confidence in the company's business fundamentals, track record, and future prospects.
The IPO proceeds will be used for various purposes, including landbank acquisition, working capital for project development, repayment of bank borrowings, and listing expenses.
Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
