KUALA LUMPUR: Stratus Global Holdings Bhd's initial public offering (IPO) was oversubscribed by 128.82 times for the Malaysian public portion ahead of its Main Market debut on Bursa Malaysia on July 21.
In a statement, the cleanroom automated material handling system (AMHS) specialist serving the semiconductor industry received 45,065 applications for 3.25 billion shares worth about RM2.6bil.
Its IPO comprises 356.25 million new shares, of which 25 million shares were allocated to the Malaysian public.
The company said 30 million shares reserved for eligible directors, employees and other eligible persons were fully subscribed.
Meanwhile, all 145 million shares offered via private placement to identified institutional and selected investors, as well as 156.25 million shares allocated to MITI-approved Bumiputera investors, were fully placed out.
Chief executive officer Ryo Narisawa said the company was encouraged by the strong response to its IPO and thanked investors for their confidence and support.
“We believe this strong response reflects recognition of Stratus Global's proven track record, specialised capabilities in cleanroom automated material handling system solutions, and the long-term opportunities within the global semiconductor industry.
"As we embark on our journey as a listed company, we remain focused on executing our long-term strategy, investing in innovation and capacity expansion, and creating sustainable value for our customers, shareholders and all stakeholders."
Stratus Global provides end-to-end AMHS solutions for cleanroom environments used in semiconductor manufacturing facilities, covering design, fabrication, installation and commissioning.
UOB Kay Hian (M) Sdn Bhd, the principal adviser, underwriter and placement agent for the IPO, confirmed that the institutional and Bumiputera private placement tranches were fully subscribed.