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07
Nov
Mega Fortris Berhad’s IPO Draws Strong Demand, Setting Stage for Global Expansion
Mega Fortris Berhad, a leading Malaysian security seals manufacturer, is set to list on the Main Market of Bursa Malaysia on November 11, 2024. Its initial public offering (IPO), priced at 67 sen per share, received an overwhelming response, with a total oversubscription of 7.18 times. The IPO involves 295.74 million shares—147.87 million new shares and an equivalent amount in offer-for-sale shares—raising RM99.07 million for Mega Fortris and an additional RM99.07 million for selling shareholders. Major backers include Oversea-Chinese Banking Corporation (OCBC), holding a significant stake in the company’s holding entity.
The anticipated market capitalisation post-listing stands at RM566.13 million, with the IPO offering investors a 35% stake in the company. With this listing, Mega Fortris aims to expand its production footprint and capitalise on rising global demand for tamper-evident solutions.
The incident was met with extensive media coverage, including a podcast by BFM.
English:
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- BFM: Mega Fortris, Sealing their Way to Success (podcast)
- Business Today: MSBS Assigns A 26% Upside For Mega Fortris From IPO Price
- The Star: Mega Fortris’ 42.25mil IPO shares for public oversubscribed 7.18 times
- The Edge Malaysia: Mega Fortris’ 42.25 mil IPO shares for public oversubscribed by 7.18 times
- The Star: Mega Fortris IPO oversubscribed by 7.18 times
- Daily Express: Mega Fortris’ IPO oversubscribed 7.18 times
- The Edge CEO Morning Brief: Mega Fortris IPO oversubscribed by 7.18 times
- The Star: Mega Fortris IPO oversubscribed by 7.18 times
- BFM: Mega Fortris, Sealing their Way to Success (podcast)
Malay:
Chinese:
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- Nanyang Siang Pau: MEGAFB’s IPO was oversubscribed 7.18 times
- Sin Chew Daily: Mega Fortris IPO oversubscribed 7.18 times
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