POWERWELL HOLDINGS BERHAD INITIAL PUBLIC OFFERING ("IPO") OF 145,455,200 ORDINARY SHARES IN POWERWELL HOLDINGS BERHAD ("POWERWELL") ("SHARES") IN CONJUNCTION WITH THE LISTING OF POWERWELL ON THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING PUBLIC ISSUE OF 87,400,000 NEW SHARES IN POWERWELL ("ISSUE SHARES") AND OFFER FOR SALE OF 58,055,200 EXISTING SHARES ("OFFER SHARES") AT AN IPO PRICE OF RM0.25 PER SHARE PAYABLE IN FULL ON APPLICATION

Tricor Investor & Issuing House Services Sdn Bhd ("TIIH") wishes to announce that the IPO of Powerwell available for application by the Malaysian public has been oversubscribed.

A total of 7,219 applications for 601,376,700 Issue Shares with a value of RM150,344,175.00 were received from the Malaysian public for 23,800,000 Issue Shares made available for application by the Malaysian public, which represents an oversubscription rate of 24.27 times.

The notices of allotment for the IPO Shares will be posted to all successful applicants on or before 20 January 2020.



Announcement Info

Date Announced 14 Jan 2020
Category Special Announcement
Reference Number ISA-14012020-00002