PETALING JAYA: IOI Properties Group Bhd’s (IOI Prop) rights issue exercise has been oversubscribed by 36.7% involving an over-subscription of 404.59 million shares.
In a filing with Bursa Malaysia, the group said that as of the close of acceptance and payment for the rights issue on March 17, the total valid acceptances were 1.51 billion rights shares, representing a subscription rate of 136.73% over the 1.1 billion rights shares available for subscription.
Together with the total valid excess applications of 412.59 million rights shares, this represents an oversubsciption of 37.45% over the total amount of 1.1 billion rights shares available for subscription.
The total proceeds received from the valid acceptances and excess applications amounted to RM2.08bil, of which oversubscription monies totaling RM558.34mil would be refunded in the manner as stated in the abridged prospectus dated March 2, 2017, the group said.
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