MyDCD retail IPO allocation oversubscribed by 36.46 times
The offering is priced at 56 sen per share, with MyDCD set to join the ACE Market on Nov 17.
MyDCD Bhd’s IPO drew retail applications totalling RM1.88 billion, with demand for its Malaysian public allocation exceeding availability by 36.46 times. A Bursa Malaysia filing showed applications covering 3.36 billion shares, compared with the 89.7 million shares available.
Within that allocation, the non-Bumiputera portion registered oversubscription of 48.92 times, while the Bumiputera portion recorded 24 times. Successful applicants are to receive their allotment notices by Nov 12.
The offering also fully placed two other allocations. One comprised 36 million shares set aside for eligible employees, directors and other entitled persons. The other covered 354.3 million shares for selected investors and Bumiputera investors with approval from the Ministry of Investment, Trade and Industry.
MyDCD will raise RM187.6 million by issuing 335 million new shares. Separately, selling shareholders will receive RM81.2 million from an offer involving 145 million existing shares. The company’s market capitalisation at listing will be approximately RM1 billion.
The company plans to use RM134 million for working capital, chiefly project execution and performance bonds. It has designated RM39.9 million for expanding the business, RM5 million for upgrading information technology and RM8.7 million for listing costs.
MyDCD’s engineering services primarily cater to data centres and cover fire protection, plumbing, electrical and mechanical systems. For the IPO, TA Securities Holdings Bhd acts as sponsor and principal adviser, as well as placement agent and underwriter.
