SumiSaujana Group Berhad announced the successful completion of its IPO balloting process with 1.85 times oversubscription, ahead of its listing on the ACE Market of Bursa Malaysia Securities Berhad.
The IPO exercise comprises:
(i) A public issue of 310,000,000 new shares (“Issue Shares”), allocated as follows:
- 72,500,000 Issue Shares made available for application by the Malaysian public via balloting, with 36,250,000 Issue Shares specifically allocated to Bumiputera investors;
- 24,400,000 Issue Shares allocated to eligible directors, employees, and persons who have contributed to SumiSaujana’s success via Pink Form allocations;
- 122,649,800 Issue Shares allocated to identified institutional and selected investors via private placement; and
- 90,450,200 Issue Shares allocated to Bumiputera investors approved by Ministry of Investment, Trade and Industry, Malaysia (“MITI”).
(ii) An offer for sale of up to 90,000,000 existing shares (“Offer Shares”) by the selling shareholders via private placement to identified Bumiputera investors approved by MITI.
SumiSaujana’s public offering garnered a positive reaction, with 5,512 applications for 206,640,400 shares worth RM49,593,696, resulting in an oversubscription rate of 1.85 times; the Bumiputera portion had an oversubscription of 1.23 times, while the other Malaysian public portion had 2.47 times.
In addition, all 24,400,000 Issue Shares available for application via the Pink Form Allocations have been fully subscribed.
The Sole Placement Agent confirmed that the 122,649,800 Issue Shares from private placements to institutional and selected investors were fully subscribed.
Furthermore, the agent confirmed that 90,450,200 Issue Shares and 90,000,000 Offer Shares for Bumiputera investors approved by MITI were fully taken up, following the clawback and reallocation provisions in Sumisaujana’s Prospectus dated 13 March 2025.
Encik Norazlam Bin Norbi, Executive Director/ Chief Executive Officer of SumiSaujana Group Berhad, commented, “The favourable demand for our IPO underscores investors’ confidence in SumiSaujana’s business model, industry expertise, and growth trajectory. We are deeply grateful for the trust placed in us, and we remain committed to deliver high-quality specialty chemical solutions to support the O&G industry and the industrial specialty chemicals industry. With the funds raised, we will further strengthen our operations, enhance production capacity, and expand our market presence to create sustainable value for our stakeholders ensuring long-term business growth.”
SumiSaujana is set to strengthen its leadership in the O&G specialty chemicals sector and achieve sustained growth, supported by strong investor interest, strong market position, and clear expansion plans. RHB Investment Bank Berhad serves as the Principal Adviser and other key roles for SumiSaujana’s IPO.