Solarvest IPO oversubscribed by 35 times

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KUALA LUMPUR (Nov 15): Solarvest Holdings Bhd said today its initial public offering’s (IPO) Malaysian public portion was oversubscribed by about 35 times after 10,205 applications for 708.32 million new shares were received for the 19.53 million new shares allocated.

Solar-photovoltaic specialist Solarvest’s IPO for its Bursa Malaysia ACE Market listing involves a public issue of 98.83 million new shares at 35 sen each to raise RM34.59 million for the company.

According to Solarvest’s Bursa filings and media statement, Solarvest is scheduled to be listed this Nov 26. Upon listing, Solarvest said yesterday it will have market capitalisation of RM136.71 million based on its issue price of 35 sen a share and the company’s enlarged share capital of 390.6 million shares.

Solarvest said notices of share allotment will be posted to successful applicants on or before Nov 21.

Source: https://www.edgeprop.my//content/1610528/solarvest-ipo-oversubscribed-35-times

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