KUALA LUMPUR (March 22): The public tranche of Eco World International Bhd's (EWI) initial public offering (IPO) has been oversubscribed by 8.87 times. In a statement today, EWI said 23,568 applications for 473.66 million shares were received from the Malaysian public against the 48 million offer shares available for subscription, which were offered at RM1.20 apiece. This represents 47.3% of the institutional offering and about 8.9% of the enlarged issued share capital of EWI. The remaining 237.06 million IPO shares are allocated to Malaysian and foreign institutional and selected investors. "We are overwhelmed by the strong support and interest we have received for the IPO from both institutional and retail investors.

Source: The Edge Markets March 22, 2017 12:56 UTC