KUALA LUMPUR (Nov 16): Infomina Bhd, which is scheduled to be listed on the ACE Market of Bursa Malaysia on Nov 25, has received an overall oversubscription rate of 21.39 times for its initial public offering (IPO) exercise.

According to a statement issued by Tricor Investor & Issuing House Services Sdn Bhd, a total of 5,779 applications for 236.75 million new shares were received for the Bumiputera portion, representing an oversubscription rate of 14.75 times.

For the public portion, a total of 5,484 applications for 436.48 million new shares were received, representing an oversubscription rate of 28.04 times.

Meanwhile, 6.01 million new shares made available for application by the eligible directors and employees of the group have also been fully subscribed.

“The placement agent has confirmed that the 126.26 million shares made available for application by way of private placement have been fully placed out,” added Infomina.

The notices of allotment will be posted to all successful applicants on or before Nov 23.

M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for Infomina.

Upon listing, the IT support services provider is expected to have a market capitsalisation of RM240.5 million based on its issue price of 40 sen per share.