K Seng Seng Corp (KSSC) Initial Public Offering (IPO) received an overwhelming response with its Malaysian public portion of 6 million shares. It was oversubscribed by 14.88 times.
The IPO attract 6,404 applications or 95.3 million shares. For the Bumiputera portion, a total of 2,645 applications for 36.5 million shares were received which represents an oversubscription rate of 11.15 times.
The Public Issue and Offer for Sale exercise comprises;
1) Public Issue of 20,1 million New Ordinary shares of RM0.50 each comprising:
- 6.0 million New Ordinary shares of RM0.50 each made available for application by the Malaysian Public.
- 5.1 million New Ordinary shares of RM0.50 each made available for application by the eligible directors and employees.
- 9.0 million New Ordinary shares of RM0.50 each made available to identified Bumiputera investors approved by MITI.
2) Offer for Sale of 22.2 million ordinary shares of RM0.50 each made available for application by Bumiputera Investors to be approved by the Ministry of International Trade And Industry
For the 9.0 million shares made available by Bumiputera Investors approved by MITI, 7.9 million shares were allocated. The balance of 1.1 million unallocated shares were made available for application by the Bumiputera Public.
Below is the allotment summary for Bumiputera portion
| Denomination | No of Application | No of Successful Application | % Chance | Share / Successful Applications | |
|---|---|---|---|---|---|
| From | to | ||||
| 100 | 200 | 94 | 23 | 24.47 | 100 |
| 300 | 900 | 9 | 3 | 33.33 | 300 |
| 1000 | 1900 | 173 | 65 | 37.57 | 1000 |
| 2,000 | 2,900 | 78 | 30 | 38.46 | 1,000 |
| 3,000 | 3,900 | 51 | 20 | 39.22 | 1,000 |
| 4,000 | 5,900 | 151 | 61 | 40.40 | 2,000 |
| 6,000 | 10,900 | 588 | 244 | 41.50 | 3,000 |
| 11,000 | 19,900 | 871 | 375 | 43.05 | 4,000 |
| 20,000 | 49,900 | 486 | 220 | 45.27 | 5,000 |
| 50,000 | 99,900 | 75 | 36 | 48.00 | 6,000 |
| 100,000 | 199,900 | 62 | 33 | 53.23 | 7,000 |
| 200,000 | ABOVE | 7 | 4 | 57.14 | 8,300 |
| 2,645 | 1,114 | ||||
Below is the allotment summary for Public portion
| Denomination | No of Application | No of Successful Application | % Chance | Share / Successful Applications | |
|---|---|---|---|---|---|
| From | to | ||||
| 100 | 200 | 493 | 69 | 14.00 | 100 |
| 300 | 900 | 14 | 2 | 14.29 | 300 |
| 1000 | 1900 | 289 | 31 | 10.73 | 1000 |
| 2,000 | 2,900 | 202 | 23 | 11.39 | 1,000 |
| 3,000 | 3,900 | 169 | 21 | 12.43 | 1,000 |
| 4,000 | 5,900 | 320 | 42 | 13.13 | 2,000 |
| 6,000 | 10,900 | 906 | 135 | 14.90 | 3,000 |
| 11,000 | 19,900 | 1,255 | 210 | 16.73 | 4,000 |
| 20,000 | 49,900 | 1,089 | 204 | 18.73 | 5,000 |
| 50,000 | 99,900 | 237 | 49 | 20.68 | 6,000 |
| 100,000 | 199,900 | 135 | 33 | 24.44 | 7,000 |
| 200,000 | ABOVE | 10 | 3 | 30.00 | 8,300 |
| 5,121 | 824 | ||||
Notices of Allotment will be dispatched by post to all successful applicants on or before 17th January 2011.
KSSC is expected to be listed on the Main Market of Bursa Malaysia on 19th January 2011.
Details information are available in Bursa Malaysia webpage.