KUALA LUMPUR: Mercury Securities Group Bhd, which is en route to a listing on the ACE Market of Bursa Malaysia on Sept 19, saw its initial public offering (IPO) for the public potion oversubscribed by 66.56 times.

For the public portion, a total of 7,957 applications for 1.5 billion shares were received, representing an oversubscription rate of 66.56 times.

For the Bumiputera public portion, 4,969 applications were received for 565.7 million new shares were received, representing an oversubscription rate of 24.34 times.

“In total, 12,926 applications for 2.07 billion new shares with a value of RM518.5mil were received from the Malaysian public representing an overall oversubscription rate of 45.45 times,” it said.

Mercury Securities said the 22.3 million new shares for eligible directors, employees and persons who have contributed to its success had also been fully subscribed.

Its placement agent confirmed that 45.47 million new shares and 4.53 millon existing shares made available for application by way of private placement to selected investors had been fully placed out, it said.

“We are deeply grateful for the enthusiastic response we’ve received from investors for our IPO. This reinforces the fact that our Company’s fundamentals and prospects have been positively acknowledged. We shall continue to upscale our growth and create value for our stakeholders going forward,” managing director Chew Sing Guan said.

Public Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for this IPO.