KUALA LUMPUR (Dec 1): Orkim Bhd’s retail offering of its initial public offering (IPO) has been oversubscribed by 11.84 times.

Orkim’s IPO comprises a public issue of 100 million new shares and an offer for sale of up to 300 million existing shares for listing on the Main Market of Bursa Malaysia at 92 sen a piece.

In a statement on Monday, the company said a total of 6,767 public applications were received for 256.8 million shares, for the 20 million shares offered to retail shareholders, accounting for the oversubscription rate.

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