Maybank IB allotted 225mil shares in Big Caring IPO for price stabilisation measures
KUALA LUMPUR: Maybank Investment Bank has announced that it has been granted an over-allotment option comprising up to 225.15 million shares for the upcoming initial public offering (IPO) of Big Caring Group Bhd (BCG).
KUALA LUMPUR: Maybank Investment Bank has obtained the authority to allot up to 225.15 million shares for the upcoming IPO of Big Caring Group Bhd (BCG). Bursa Malaysia's filing reveals that Maybank IB has the option to stabilize BCG's share price post-IPO. This allotment is limited to 12.0 percent of the total shares offered in the IPO.
The stabilisation period begins on Nov 19, the date BCG lists on Bursa Malaysia's Main Market. Maybank IB's responsibility to stabilize the share price endures until either 30 days after the listing date or when they purchase the entire limit of 225.15 million shares on the open market. The initiative aims to avoid or decelerate a decline in the share price immediately after its debut, ensuring early market stability for new investors.
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