INITIAL PUBLIC OFFERING (\u201cIPO\u201d) OF 285,600,000 ORDINARY SHARES IN MASTER TEC GROUP BERHAD (\u201cMTG\u201d<\/b><\/p>\n
OR \u201cCOMPANY\u201d) (\u201cSHARES\u201d) COMPRISING PUBLIC ISSUE OF 158,100,000 NEW SHARES AND OFFER FOR SALE<\/b><\/p>\n
OF 127,500,000 EXISTING SHARES (COLLECTIVELY, \u201cIPO SHARES\u201d) IN CONJUNCTION WITH THE LISTING OF<\/b><\/p>\n
AND QUOTATION FOR THE ENTIRE ENLARGED ISSUED SHARES ON THE ACE MARKET OF BURSA MALAYSIA<\/b><\/p>\n
SECURITIES BERHAD AT AN IPO PRICE OF RM0.39 PER SHARE, PAYABLE IN FULL UPON APPLICATION<\/b><\/p>\n
The IPO involves the issuance of Shares in the following manner:<\/p>\n
(I) 51,000,000 IPO Shares made available for application by the Malaysian public;<\/p>\n
(II) 2,144,000 IPO Shares made available for application by the eligible directors and employees of MTG and its<\/p>\n
subsidiary;<\/p>\n
(III) 104,956,000 IPO Shares by way of private placement to selected investors; and<\/p>\n
(IV) 127,500,000 IPO Shares by way of private placement to identified Bumiputera investors approved by the<\/p>\n
Ministry of Investment, Trade and Industry (\u201cMITI\u201d),<\/p>\n
Malaysian Issuing House Sdn Bhd (MIH)<\/b> is pleased to announce that the public issue of 51,000,000 IPO Shares made<\/p>\n
available for application by the Malaysian public have been oversubscribed by 7.11 times.<\/p>\n
A total of 7,276 applications for 413,647,100 IPO Shares were received from the Malaysian public, representing an overall<\/p>\n
oversubscription rate of 7.11 times. For the Bumiputera portion, a total of 2,475 applications for 80,304,700 IPO Shares<\/p>\n
were received, representing an oversubscription rate of 2.15 times, while 4,801 applications for 333,342,400 IPO Shares<\/p>\n
were received under the other Malaysian public portion, representing an oversubscription rate of 12.07 times.<\/p>\n
In addition, the 2,144,000 IPO Shares made available for application for the eligible directors and employees have been<\/p>\n
fully subscribed.<\/p>\n
In relation to the 127,500,000 IPO Shares made available for application by way of private placement to identified<\/p>\n
Bumiputera investors approved by the MITI, an aggregate of 87,465,900 IPO Shares were subscribed by the identified<\/p>\n
Bumiputera investors approved by the MITI.<\/p>\n
Pursuant to the terms set out in the Prospectus of MTG dated 28 December 2023, a total of 40,034,100 IPO Shares which<\/p>\n
were initially reserved for application by identified Bumiputera investors approved by the MITI were clawed-back and<\/p>\n
reallocated to the Bumiputera public investors.<\/p>\n
SJ Securities Sdn Bhd<\/b>, being the Principal Adviser, Sponsor, Sole Placement Agent and Sole Underwriter has confirmed<\/p>\n
that the 127,500,000 IPO Shares made available by way of private placement to identified Bumiputera investors approved<\/p>\n
by the MITI have been fully placed out. Adding on, 104,956,000 IPO Shares made available by way of private placement to<\/p>\n
selected investors have also been fully placed out.<\/p>\n
The notices of allotment will be mailed to all successful applicants by 29 January 2024.<\/p>\n
Malaysian Issuing House Sdn. Bhd.<\/b><\/p>\n
Registration Number: 199301003608 (258345-X<\/i>)<\/p>\n
11th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, 46200 Petaling Jaya, Selangor, Malaysia<\/p>\n
T: (60) 3 7890 4700, F: (60) 3 7890 4680<\/p>\n
www.boardroomlimited.com; www.mih.com.my<\/p>\n","protected":false},"excerpt":{"rendered":"
INITIAL PUBLIC OFFERING (\u201cIPO\u201d) OF 285,600,000 ORDINARY SHARES IN MASTER TEC GROUP BERHAD (\u201cMTG\u201d OR \u201cCOMPANY\u201d) (\u201cSHARES\u201d) COMPRISING PUBLIC ISSUE<\/p>\n","protected":false},"author":2,"featured_media":10035,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[78,75],"tags":[],"class_list":["post-10375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-news","category-press-releases"],"yoast_head":"\n