KUALA LUMPUR – Wawasan Dengkil Holdings Bhd’s initial public offering (IPO) has drawn overwhelming interest, receiving RM124.17 million in applications—more than seven times the RM27.01 million it aims to raise.
Priced at RM0.25 per share, the IPO saw 8,562 applications for 496.66 million shares, leading to an oversubscription rate of 17.39 times, according to Tricor Investor & Issuing House Services Sdn Bhd.
Strong Demand Across Investor Segments
- Bumiputera investors: 4,241 applications for 232.08 million shares (oversubscribed 16.19x).
- Non-Bumiputera investors: 4,321 applications for 264.58 million shares (oversubscribed 18.59x).
- Shares for eligible persons and private placements were fully subscribed.
Listing and Allotment Details
Successful applicants will receive their notices of allotment by March 21, 2025, ahead of Wawasan Dengkil’s ACE Market debut on March 25.
About Wawasan Dengkil Holdings Bhd
Specializing in excavation, soil and rock relocation, and land compaction, Wawasan Dengkil plays a vital role in construction foundation preparation, along with roadworks, drainage, and sewerage system development.
M&A Securities is the adviser, sponsor, underwriter, and placement agent for the IPO, while Eco Asia Capital Advisory serves as the financial adviser.
Stay tuned for updates on Wawasan Dengkil’s listing and market performance.
