PETALING JAYA: The public tranche of Prolintas Infra Business Trust’s (Prolintas Infra BT) IPO has been oversubscribed by 3.59 times.
In a statement, Prolintas Infra BT said the country’s first Islamic business trust slated for listing on Bursa Malaysia’s Main Market on March 25 received 7,211 applications for 126,172,600 units, with a total value of RM119.9 million, versus 27,500,000 units made available for application by the Malaysian public.
A total of 2,881 applications for 32,344,900 units were received for the Bumiputera portion, representing an oversubscription rate of 1.35 times, while 4,330 applications for 93,827,700 units were received under the other Malaysian public portion, representing an oversubscription rate of 5.82 times.
The institutional offering of 422,949,000 units made available to institutional and selected investors, including Bumiputera investors approved by the investment, trade and industry ministry, has been fully subscribed.
“We are proud of the exceptional subscription response achieved by Malaysia’s first listed business trust, Prolintas Infra BT’s IPO, which reflects confidence in our business model and growth prospects.
“We are deeply humbled by the trust placed in us and remain committed to delivering strong returns and value to our unitholders,” said Projek Lintasan Kota Holdings Sdn Bhd group CEO Azlan Abdullah.
The eight cornerstone investors secured for the IPO – Permodalan Nasional Bhd, AHAM Asset Management Bhd, AIIMAN Asset Management Sdn Bhd, Lembaga Tabung Haji, Maybank Asset Management Sdn Bhd, Maybank Islamic Asset Management Sdn Bhd, Kenanga Investors Bhd, and Kenanga Islamic Investors Bhd – have collectively subscribed for 70.9% of the institutional offering.
The remaining units available from the institutional offering, including the over-allotment option, comprises mostly long-term institutional investors, with an oversubscription rate of approximately 1.5 times. - FMT
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