EPB Group public offering oversubscribed 61.08 times

KUALA LUMPUR: One-stop food processing and packaging machinery solutions provider, EPB Group Bhd’s initial public offering (IPO) of 19.57 million shares made available for the public has been oversubscribed by 61.08 times.

The group received a total of 25,756 applications for 1.21 billion public issue shares worth RM680.3mil from the Malaysian public, representing an oversubscription rate of 61.08 times.

The Bumiputera category saw 11,850 applications for 456.2 million public issue shares, with an oversubscription rate of 45.63 times.

Meanwhile, the public category recorded 13,906 applications for 758.6 million public issue shares, indicating an oversubscription rate of 76.53 times.

Managing director Yeoh Chee Min expressed appreciation for the overwhelming response to the IPO, noting that this significant occasion reflects the market’s confidence in EPB’s strategic direction and potential.

“Our IPO serves as a gateway to the capital markets, providing us with the necessary resources to fuel our next phase of growth and innovation, particularly in the realm of robotics integration in the food processing and packaging machinery solutions we currently provide to our customers,” he said in a statement.

Deputy managing director Liew Meng Hooi said: “As emphasised during our prospectus launch, our commitment to integrating robotics and advancing our food processing and packaging machinery solutions will be a key driver for our future growth. The strong investor interest in our IPO highlights the market’s confidence in our growth strategy and the innovative solutions we provide.”

“We are excited to explore new opportunities and expand our product offerings, ensuring that we stay ahead of industry trends and continue to deliver valuable solutions for our clients.”

Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent, and WYNCORP Advisory Sdn Bhd is the corporate finance adviser of EPB Group.

EPB Group is scheduled to make its debut on Bursa Malaysia Securities’ ACE Market on August 23.