HAILY GROUP IPO OVERSUBSCRIBED BY 38.81 TIMES, AHEAD OF ITS LISTING ON THE ACE MARKET OF BURSA SECURITIES
Tricor Investor & Issuing House Services Sdn Bhd announced that the Public Issue of 8.92 million new Public Issue Shares of Haily Group Berhad (Haily) available for application by the Malaysian public has been oversubscribed.
Haily is principally a main contractor involved in building construction of residential and non-residential buildings in the Southern Region of Peninsular Malaysia, and is also involved in the provision of rental of construction machinery.
A total of 13,367 applications for 355,09 million new Public Issue Shares with a value of RM241,48 million were received from the Malaysian public, which represents an overall oversubscription rate of 38.81 times. For the Bumiputera portion, a total of 6,185 applications for 138.11 million new Shares were received, which represents an oversubscription rate of 29.69 times.
For the public portion, a total of 7,182 applications for 216.98 million new Shares were received, which represents an oversubscription rate of 48.09 times.
Meanwhile, a total of 10 million new Public Issue Shares available for application by the eligible directors and employees of the Group and persons who have contributed to the success of the Group have also been fully subscribed.
In addition, the Placement Agent has confirmed that the 5.98 million Public Issue Shares and 5.3 million Offer Shares made available for application by way of private placement to selected investors have been fully placed out.
On 5.1 million Public Issue Shares and 12.7 million Offer Shares made available for application by Bumiputera investors approved by MITI, a total of 2.16 shares were not taken up. Pursuant to the terms set out in the Prospectus, the said remaining unsubscribed shares which were initially reserved for Bumiputera investors approved by MITI were clawed-back and reallocated to the Bumiputera public via the balloting process.
Haily’s Executive Director Mr. See Tin Hai said: “We are delighted to see the strong support from investors for HAILY’s shares. This is an encouraging sign as we embark on our next stage of growth as a public-listed company. We believe that the construction industry will show positive signs of recovery towards the second half of 2021, bolstered by the country’s on-going national immunisation programme. Thus, we look forward to more developments being revived by property companies which provide the construction sector with more project bidding opportunities especially in the Johor region where HAILY is operating. However, before that, let us anticipate another key milestone in the pipeline, which is the official listing of HAILY on the ACE Market of Bursa Securities on 21 July 2021.”
The notices of allotment will be posted to all successful applicants on or before 19 July 2021.
TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent for this IPO exercise.
