Pawnshop operator Pappajack’s IPO oversubscribed 22 occasions

KUALA LUMPUR: Pawnbroking firm Pappajack Bhd, en route for a list on the ACE Market of Bursa Malaysia, has garnered an total oversubscription fee of 21.73 occasions for 33.4 million public problem shares made accessible for utility by the Malaysian public.

A complete of seven,125 purposes for 759 million public problem shares with a price of RM227.75 million have been acquired from the Malaysian public.

“For the Bumiputera portion, a complete of two,243 purposes for 116,687,800 public problem shares have been acquired, which represents an oversubscription fee of 5.99 occasions,” it advised the inventory trade. “For the general public portion, a complete of 4,882 purposes for 642 million shares have been acquired, which represented an oversubscription fee of 37.47 occasions.”

It stated the 6.68 million public problem shares made accessible for utility by eligible individuals have been totally subscribed.

The corporate stated 83.50 million public problem shares made accessible by the use of non-public placement to Bumiputera traders and 43.42 million shares to chose traders have been totally positioned out.

The primary licensed pawnbroking firm to be listed on the ACE Market come April 1, 2022, it’s planning to boost RM50.10 million from its preliminary public providing (IPO) at 30 sen per share.

Of the entire proceeds, it stated RM19.22 million will probably be allotted for the growth of its new pawnbroking shops in Peninsular Malaysia, RM27.08 million for money capital to present pawnbroking shops whereas the remaining RM3.8 million will probably be utilized to defray itemizing bills. – Bernama


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