KUALA LUMPUR: The public portion of Zantat Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 130.15 times, the company says.

The high grade calcium carbonate powder producer said in a statement a total of 13,755 applications seeking 1.84 billion new shares with a value of RM459.01mil were received from the Malaysian public for 14 million new shares available for public subscription.

The bumiputra public portion of shares was oversubscribed by 137.99 times, after a total of 8,151 applications for 972.94 million new shares received.

For the non-bumiputra public portion, 5,604 applications for 863.11 million new shares were received, which represents an oversubscription rate of 122.3 times.

Meanwhile, the 11.2 million new shares for its eligible directors, employees and persons who have contributed to the success of Zantat Group have also been fully subscribed. Its placement agent confirmed that 47.6 million shares made available for application by way of private placement to selected investors have been fully placed out.