corporate

EPB's IPO attracts applications for 1.21bil shares worth RM680.35mil

KUALA LUMPUR: EPB Group Bhd, which is scheduled for a listing on Bursa Malaysia's ACE Market on Aug 23, has seen its initial public offering (IPO) oversubscribed by more than 61 times.

The IPO comprises 71.57 million shares, comprising a public issue of 19.57 million new shares. 

A total of 25,756 applications for 1.21 billion shares with a value of RM680.35 million were received from the public, representing an overall oversubscription rate of 61.08 times.

The Bumiputera category saw 11,850 applications for 456.25 million public issue shares, with an oversubscription rate of 45.63 times.

The public category recorded 13,906 applications for 758.66 million public issue shares, indicating an oversubscription rate of 76.53 times. 

EPB managing director Yeoh Chee Min said the milestone reflects the market's confidence in its strategic direction and potential.

Yeoh said the IPO opens the door to capital markets, equipping the company with the necessary resources to drive its next phase of growth and innovation.

"This is particularly in robotics integration within our food processing and packaging machinery solutions. 

Malacca Securities Sdn Bhd is the principal adviser, sponsor, sole underwriter and placement agent for the IPO.

WYNCORP Advisory Sdn Bhd is the corporate finance adviser of EPB.

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