Investors get refunds as Cuckoo sets IPO price at RM1.08, lower than initial RM1.29
In a statement today, the home appliance manufacturer said the final IPO price for its listing on the Main Market has been set at RM1.08 per share, lower than the initial reference price of RM1.29 per share.
"As such, successful retail investors will receive a refund of the 21 sen price difference per share, without any interest," it said in a statement.
According to Cuckoo, a total of 7,908 applications for 69.33 million shares were received from Malaysian public investors for the 28.65 million shares offered.
The non-Bumiputera public investor portion saw the highest oversubscription rate of 2.49 times, while the Bumiputera public portion recorded an oversubscription rate of 0.35 times.
Cuckoo said the 143.28 million shares offered via private placement to local and foreign institutional investors were fully placed out, indicating strong confidence from large-scale investors.
In addition, it said 14.33 million shares allocated to eligible individuals, including Cuckoo group employees, were also fully subscribed.
RHB Investment Bank Bhd and AmInvestment Bank Bhd are the joint global coordinators for this IPO.
The share allotment notices will be posted to all successful applicants on June 23.
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