ACE Market-bound Oasis Home's IPO oversubscribed 1.55 times
PETALING JAYA: Oasis Home Holding Bhd initial public offering (IPO) of shares to the public have been oversubscribed by 1.55 times ahead of its listing on the ACE Market of Bursa Malaysia on May 28.
In a release, the omni-channel consumer lifestyle products marketer and seller's IPO comprises the offer of 150 million ordinary shares which include a public issue of 100 million new ordinary shares at an issue price of 28 sen per share.
The offer for sale of 50 million existing shares by way of private placement to selected investors was also successfully completed, the company noted in a statement.
The 62.5 million issue shares reserved for Bumiputera investors approved by the Ministry of Investment, Trade and Industry have been fully placed out after applying the relevant clawback and reallocation provisions as set out in Section 4.3.4 of the prospectus of Oasis Home dated April 25, 2025.
The company plans to allocate RM13.7mil of proceeds raised to expand its live commerce sales channels, including launching at least five new live commerce channels and expanding its team.
Another RM3.6mil will be utilised to establish its own fulfilment centre while RM2mil will be set aside for setting up of a new headquarters.
With its enlarged capital and priced at 28 sen a share, the Group will have a market capitalisation of RM140mil.
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