Malaysia’s CTOS Digital IPO oversubscribed by retailers by 27.6x

Article was originally published by Deal Street Asia

Malaysia’s CTOS Digital Bhd, which is planning a 1.2 billion ringgit ($287.08 million) listing later this month, saw the retail portion of its initial public offering oversubscribed by 27.6 times, it said in a statement on Thursday.

The credit reporting firm received 51,494 applications for 1.26 billion shares, out of 44 million shares made available to the Malaysian public in the market’s biggest listing so far this year.

The institutional offering was fully subscribed by 23 cornerstone investors including AIA Group Ltd, Aberdeen Standard Investments and two of Malaysia’s largest government-linked funds, the Employees Provident Fund and Permodalan Nasional Bhd.

CTOS launched its IPO prospectus last week and is slated to list on July 19.