ACE Market-bound Synergy House IPO oversubscribed 14 times

TheStar Mon, May 22, 2023 08:42pm - 4 months View Original

KUALA LUMPUR: Synergy House Bhd’s public issue of 25.0 million shares made available for the Malaysian public under its initial public offering (IPO) has been oversubscribed by 14.02 times.

In a filing with Bursa Malaysia today, the cross-border e-commerce seller and furniture exporter said it received a total of 12,347 applications for 375.42 million IPO shares valued at RM161.43 million from the Malaysian public.

Synergy House is tentatively scheduled to be listed on the ACE Market of Bursa Malaysia on June 1, 2023, at an issue price of 43 sen apiece.

For the Bumiputera portion, Synergy said 7,277 applications for 164.16 million IPO shares were received, representing an oversubscription rate of 12.13 times.


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