KUALA LUMPUR: Topmix Bhd, slated for a listing on the ACE Market of Bursa Malaysia on April 23, has seen its initial public offering (IPO) oversubscribed by 58.61 times.
The total surface decorative products company said, in a statement, its listing involved a public issuance of 82.7 million new ordinary shares, representing 21.0% of its enlarged share capital, as well as an offer for sale of 19.69 million or 5% of its enlarged share capital by way of private placement to selected investors.
Topmix is set to raise IPO proceeds of RM25.6mil at an IPO price of 31 sen per share.