KUALA LUMPUR: Haily Group Bhd's public issue of 8.92 million shares has been oversubscribed by 38.81 times, receiving 13,367 applications for 355.1 million units worth RM241.47 million.
Haily said a total of 6,185 applications for 138.11 million new shares were received for the Bumiputera portion, representing an oversubscription rate of 29.69 times.
For the public portion, a total of 7,182 applications for 216.99 million new shares were received for an oversubscription rate of 248.09 times.
A total of 10 million new public issue shares for application by eligible directors and employees who had contributed to the company's success is also fully subscribed.
Haily said the 5.98 million public issue shares and 5.3 million offer shares offered through a private placement to selected investors had also been fully placed out.
Executive director See Tin Hai is pleased with the strong support from investors.
"This is an encouraging sign as we embark on our next stage of growth as a public-listed company. We believe that the construction industry will show positive signs of recovery towards the second half of 2021, bolstered by the country's on-going national immunisation programme," See said in a statement today.
He said Haily was looking forward to more developments being revived by property companies which would provide the construction sector with more project bidding opportunities especially in Johor.
Haily is due to be listed on Bursa Malaysia's ACE market on July 21.