K Seng Seng IPO Oversubscribed by 14.88 times



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.


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