KUALA LUMPUR: NWE Resources Group Bhd's initial public offering (IPO) portion made available to the Malaysian public was oversubscribed by 2.82 times ahead of its listing on the ACE Market of Bursa Malaysia.
In a filing with Bursa Malaysia today, the company said a total of 3,068 applications for 103.16 million issue shares were received from the Malaysian public.
"For the Bumiputera portion, a total of 1,536 applications for 38.93 million issue shares were received, representing an oversubscription rate of 1.88 times.
"For the public portion, a total of 1,532 applications for 64.23 million issue shares were received, representing an oversubscription rate of 3.76 times," it added.
