PETALING JAYA: ACE Market-bound power cable manufacturer Master TEC Group Bhd’s 51 million initial public offering( IPO) shares available for public application have been oversubscribed by 7.11 times. The Melaka-based company said a total of 7, 276 applications for 413.65 million shares worth RM161. 32mil were received from the Malaysian public for the IPO shares. Master Tec, which is scheduled for a listing on Jan 29, 2024, has been involved in the manufacture and distribution of power cables,

PETALING JAYA: Master Tec Group Bhd, en route for a listing on the ACE Market of Bursa Malaysia on Jan 29, 2024, expects to raise RM61.66 million from its initial public offering( IPO).In a statement today, Master Tec said the IPO entailed the public offering of 285.6 million ordinary shares, comprising a public issue of 158.1 million new shares and an offer for sale of 127.5 million existing shares, representing 28.0 per cent of the group’s enlarged issued share capital of 1.02 billion ordinary