Initial Public Offering (IPO)

MKH Oil Palm IPO oversubscribed by 8.4 times!

MQTrader Jesse
Publish date: Wed, 24 Apr 2024, 12:17 PM

The IPO ballot result for MKH Oil Palm has been released; it was oversubscribed by 8.4 times.

The company issued 220,000,000 new ordinary shares at RM 0.62, with 51,209,800 units allocated to the Malaysian public and 168,790,200 units to selected investors through private placement. This issuance represents 21.5% of its enlarged share capital, resulting in IPO proceeds totaling RM136.4 million.

Furthermore, there was an offer for sale of 30,707,700 existing shares, which also represents 3.0% of the enlarged shares for selected investors through private placement.

MKH OP announced that a total of 9,510 applications for 482,881,500 issue shares, valued at RM299,386,530.00, were received from the Malaysian public, representing an overall oversubscription rate of 8.43 times. For the Bumiputera portion, a total of 4,628 applications for 220,242,400 issue shares were received, representing an oversubscription rate of 7.60 times. For the public portion, a total of 4,882 applications for 262,639,100 issue shares were received, representing an oversubscription rate of 9.26 times.

Based on recent IPOs on the main market, the Keyfield IPO was oversubscribed by 9.69 times, and its stock price soared by 100% at the opening. Similarly, the MKHOP IPO, also listed on the main board, was oversubscribed by 8.4 times.

Could MKHOP become another stock to double in value? We'll find out on April 30, 2024!


Still do not have the trading account ? Send your inquiry now! https://bit.ly/mqtatrade


Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.


Community Feedback

We encourage traders to try out and evaluate the MQ Trader system and provide us feedback on the features you like to see in the system. We have received many positive feedbacks so far, and we are currently compiling and reviewing them for possible inclusion into the next release of the system.

We would like to develop this system based on community feedback to cater for community needs. Thanks to all those who have provided valuable feedback to us. Keep those feedback coming in!

Disclaimer

This article does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties in the Internet. We may or may not hold position in the stock covered, or initiate new position in the stock within the next 7 days.

Join us now!

MQ Trader stock analysis system uses Artificial Intelligence (AI), various technical indicators and quantitative data to generate accurate trading signals without the interference of human's emotions and bias against any particular stock. It comprises trading strategies which are very popular among fund managers for analysing stocks.

MQ Trader stock analysis system is SPONSORED for MQ Trader members. To use this amazing tool, you can sign up via MQ Trader Sign Up!

Contact us

Please do not hesitate to contact us if you have any enquiry:

Facebook: https://www.facebook.com/mqtrader

Instagram:https://www.instagram.com/mqtrader

MQ Chat: https://messenger.i3investor.com/m/chatmq

YouTube: https://www.youtube.com/channel/UCq-26SGjlQTVQfO7DoEihlg

Email: admin@mqtrader.com

Related Stocks
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment