Big Caring IPO public portion oversubscribed by 4.31 times
Retail and institutional prices were finalised at RM1.08 per share, with the Main Market listing scheduled for Nov 19.
Big Caring Group Bhd attracted 29,474 applications seeking 783.75 million shares in the Malaysian public tranche of its initial public offering (IPO), putting oversubscription at 4.31 times, Malaysian Issuing House Sdn Bhd said.
The pharmacy chain operator had allocated 147.64 million shares to the public. Within that allocation, the Bumiputera tranche of 73.82 million shares drew 7,266 applications seeking 142.85 million shares, an oversubscription of 0.94 times.
Another 73.82 million shares were available to other Malaysian public applicants. This portion attracted 22,208 applications seeking 640.9 million shares and was oversubscribed by 7.68 times.
After institutional bookbuilding concluded, both final offer prices were fixed at RM1.08 per share. This leaves the retail price unchanged from the Oct 29 offer, so successful retail applicants will not require refunds.
Subscriptions also covered all 120 million shares for eligible persons after clawback and reallocation provisions were applied. The institutional offering of 1.61 billion shares was fully taken up, with 19 cornerstone investors accounting for 41.2% of that offering, according to Malaysian Issuing House.
The IPO is expected to generate RM2.03 billion, including RM637.8 million for Big Caring through newly issued shares. Its expected market capitalisation on debut is RM7.97 billion, based on 7.38 billion shares at RM1.08 each.
Big Caring is scheduled to join Bursa Malaysia's Main Market on Nov 19. Successful applicants will be sent allotment notices by Nov 18.
