Main market bound Yenher’s IPO oversubscribed by 13.8 times


KUALA LUMPUR (Bernama) — Main Market-bound Yenher Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 13.8 times.

The company received 10,931 applications for 222 million shares.

In total, the company will issue up to 106 million IPO shares.

In a statement today, the manufacturer and distributor of animal health and nutrition products said 38.688 million IPO shares by way of private placement to other institutional and selected investors have also been fully placed out.

The sole principal adviser, underwriter and placement agent is RHB Investment Bank Bhd.

The company said all notices of allotment for the IPO shares would be mailed to successful applicants on or before July 15, 2021.

The IPO exercise would raise RM61.21 million, of which RM31 million of the gross proceeds would be utilised for the construction of a manufacturing plant, RM9.7 million for new machinery and equipment purchases, RM16.71 million for working capital purposes and the remaining RM3.8 million for listing expenses.

The company’s listing on the Main Market of Bursa Malaysia is scheduled for July 15, 2021.

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