The RedPlanet IPO has drawn heavy demand from Malaysian investors. ICT solutions provider RedPlanet Bhd (KL:RPLANET) said its public allocation was oversubscribed 85.28 times.
The company specialises in geospatial and intelligent rail solutions. Its listing transfers from the LEAP Market to the ACE Market on Oct 22.
Why Was the RedPlanet IPO Oversubscribed 85.28 Times?
RedPlanet received 7,031 applications for its public allocation. The demand far exceeded the supply on offer.
- Shares set aside for the Malaysian public: 20.54 million
- Shares applied for: 1.77 billion
- Value of applications: RM336.72 million
- Oversubscription: 85.28 times
How Were the RedPlanet IPO Shares Allocated?
The 19.711 million shares for eligible persons were fully subscribed after clawback and reallocation provisions were applied. The 11.53 million shares for selected investors were fully placed out.
- Bumiputera investors: 18.22 million shares, approved by the Ministry of Investment, Trade and Industry, fully taken up
- Selected investors: 10 million offer shares, fully taken up
When Does RedPlanet Move to the ACE Market?
RedPlanet transfers its listing from the LEAP Market to the ACE Market on Oct 22. The statement was issued on Tuesday, Oct 13.
The statement does not give the IPO offer price, subscription dates or total funds raised. Check the company’s prospectus for these figures.
What Does RedPlanet Do, and Why Does the ACE Move Matter?
RedPlanet describes itself as an enterprise ICT solutions provider with specialised capabilities in geospatial applications and rail safety technologies. Executive director and managing director Lian Wah Seng said the move aims to “strengthen our market visibility, expand our investor base and position the company for its next phase of growth.”
UOB Kay Hian (M) Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for both the IPO and the ACE Market transfer.
What Financial Numbers Are Missing From the RedPlanet IPO Statement?
The statement contains no revenue, net profit or EPS figures. Valuation against peers cannot be checked from this announcement alone.
Before weighing the stock, the prospectus is worth monitoring for:
- The IPO offer price and total funds raised
- Revenue and profit track record for recent financial years
- Valuation compared with listed ICT and geospatial peers on Bursa Malaysia
- Use of proceeds and balance sheet gearing
How to Apply for Future Malaysian IPOs Like RedPlanet’s
The statement says the public allocation is fully subscribed, so this offer is closed. The steps below apply to future IPOs.
- Online IPO applications need a direct CDS account in your own name.
- Apply through the M+ Global app using Invitation Code UBZQ. Do not use the M+ Online app, which has stopped working.
- Submit only one application per IPO. Multiple applications are an offence under the Capital Markets and Services Act 2007.
- For assistance, WhatsApp +60169059789.
Read more about IPO Investing with M+ Global or Trading Account Types in Malaysia.
Key Takeaways
- RedPlanet IPO public allocation was oversubscribed 85.28 times.
- Applications totalled 1.77 billion shares worth RM336.72 million against 20.54 million shares set aside.
- RPLANET moves from the LEAP Market to the ACE Market on Oct 22.
- Offer price, total funds raised and financials are not in the announcement and should be checked in the prospectus.
Frequently Asked Questions
Was the RedPlanet IPO oversubscribed?
Yes. The Malaysian public allocation was oversubscribed 85.28 times, with 7,031 applications for 1.77 billion shares against 20.54 million shares set aside.
When does RedPlanet move to the ACE Market?
RedPlanet transfers its listing from the LEAP Market to the ACE Market on Oct 22. The stock code is RPLANET.
What does RedPlanet do?
RedPlanet is an ICT solutions provider specialising in geospatial and intelligent rail solutions. UOB Kay Hian (M) Sdn Bhd is its principal adviser, sponsor, underwriter and placement agent.
This article is for information only and is not investment advice. Do your own research before making any decision on RPLANET.
Source: View Original Article — The content is based on the original publisher. Refer to the original content for accurate info. Contact us for any changes.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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