Public Portion of Lim Seong Hai Capital Berhad's Public Offering in Conjunction with its Transfer of Listing from the LEAP Market to the ACE Market of Bursa Malaysia Oversubscribed
Kuala Lumpur, Monday, 10th March 2025 – Lim Seong Hai Capital Berhad (“LSH Capital” or “the Company”), is pleased to announce that the public portion of its Public Offering (“Public Offering”) in conjunction with its transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”) has been oversubscribed.
The Public Offering consists of 191,000,000 shares in the following manner:
1. Public issue of 132,000,000 new shares:
o 16,767,200 shares made available for application by the Malaysian public via balloting;
o 12,575,400 shares made available for application by the eligible directors and employees of LSH Capital and its subsidiaries (“the Group”) as well as other persons who have contributed to the success of the Group (“Eligible Persons”); and
o 102,657,400 shares by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry of Malaysia (“MITI”); and
2. Offer for sale of up to 59,000,000 existing shares:
o 2,137,600 shares by way of private placement to Bumiputera investors approved by the MITI; and
o 56,862,400 shares by way of private placement to other institutional and selected investors.
A total of 7,978 applications for 215,908,900 shares with a total value of RM189,999,832 were received from the Malaysian public, which represents an overall oversubscription rate of approximately 11.88 times.
For the Bumiputera portion, a total of 3,777 applications for 83,341,000 shares were received, representing an oversubscription rate of approximately 8.94 times. For the non-Bumiputera portion, a total of 4,201 applications for 132,567,900 shares were received, which represents an oversubscription rate of approximately 14.81 times.
Meanwhile, all 12,575,400 shares made available for application by the Eligible Persons have been fully subscribed.
AmInvestment Bank Berhad, as the Sole Placement Agent, has confirmed that all 161,657,400 shares made available for application by way of private placement to institutional and selected investors, including identified Bumiputera investors approved by the MITI, have been fully taken up after applying the relevant clawback and reallocation provisions as set out in LSH Capital’s Prospectus dated 28 February 2025.
Commenting on the subscription rate, Tan Sri Datuk Seri Lim Keng Cheng, the Non-Executive Chairman of LSH Capital, remarked: "The overwhelming response to our Public Offering reflects strong investor confidence in LSH Capital’s business fundamentals and growth potential. This milestone marks an exciting new chapter as we transition to the ACE Market, expanding our reach and strengthening our position in the construction and property development sectors. We remain committed to delivering sustainable value to our shareholders and driving Malaysia’s infrastructure development forward."
The notices of allotment to all successful applicants will be mailed by 19th March 2025. The shares are scheduled to be listed on the ACE Market on 21st March 2025.
AmInvestment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for this Public Offering.
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