In a filing with Bursa Malaysia today, the company said 46.2 million IPO shares available for application by the Malaysian public were oversubscribed 17.82 times.

Cape EMS is due to be listed on March 10.

The electronics manufacturer said the IPO involves an offering of 259.7 million IPO shares including an institutional offering of 205.5 million shares and a retail offering of 54.2 million shares for the Malaysian public, its directors, eligible employees and persons who have contributed to the success of Cape EMS and its subsidiaries.

The group is involved in electronics manufacturing services, aluminium die cast manufacturing and supply of electronic products. Its customers are from both industrial and consumer sectors, and mainly from the US, Europe and Asia Pacific markets.

In the Bumiputera public portion, a total of 6,340 applications for more than 220 million shares were received, representing an oversubscription rate of 8.54 times.

As for the remaining Malaysian public portion, it said a total of 12,186 applications for more than 649 million shares were received, representing an oversubscription rate of 27.11 times.

The filing said the 205.5 million shares offered to institutional and selected investors, including Bumiputera investors approved by the international trade and industry ministry were fully subscribed.

The institutional price was fixed at 90 sen a share. Accordingly, the final retail price for the IPO shares under the retail offering was also fixed at 90 sen apiece.

Hence, there will be no refund to successful applicants under the retail offering. Allotment notices will be posted on or before March 8, 2023, the company said.