Oasis Home's 150mil IPO shares oversubscribed by 1.55 times
KUALA LUMPUR: Oasis Home Holding Bhd's initial public offering (IPO) has been oversubscribed by 1.55 times ahead of its listing on the ACE Market of Bursa
Malaysia on May 28.
Its IPO comprises of 150 million shares, including a public issue of 100 million new shares at 28 sen each.
This represents 20 per cent of the enlarged issued shares, with about RM28 million expected to be raised.
Upon listing, the company will have a market capitalisation of around RM140 million.
Some 25 million out of the 100 million issue shares are allocated to the public, in which the company received a total of 2,216 applications for 38.7 million issue shares with a value of about RM10.83 million, representing an overall oversubscription rate of 1.55 times.
Meanwhile, the 10 million issue shares made available for application by the eligible directors and employees have been fully subscribed.
The IPO also included an offer for sale of 50 million existing shares, representing 10 per cent of the enlarged issued share capital, made available through a private placement to selected investors.
Of the private placement, 2.5 million issue shares and 50 million offer shares designated for selected investors have been fully placed out.
The 62.5 million issue shares reserved for Bumiputera investors approved by Investment, Trade and Industry Ministry have been fully placed out after applying the relevant clawback and reallocation provisions as set out in Section 4.3.4 of the company's prospectus dated April 25.
Oasis Home is involved in the marketing and selling of consumer lifestyle products under both its in-house and third-party brands.
By adopting an omni-channel marketing approach, the company utilises both online and offline sales channels to ensure a seamless and accessible retail journey for customers, strengthening its position across a wide spectrum of consumer touchpoints.
Oasis Home offers a wide range of products, with about 5,228 stock keeping units.
Chief executive officer Datuk Teoh Yee Seang said the continued growth of the retail and live commerce industries makes this an ideal time for the company to capitalise on favourable market conditions.
He said the optimistic outlook was based on market research projecting that Southeast Asia's live commerce market will grow at a two-year compounded annual growth rate (CAGR) of 42.5 per cent, reaching US$76.6 billion in 2027 from US$37.7 billion in 2025.
"To position ourselves leverage this favourable outlook, a significant portion of our IPO proceeds will be dedicated to expanding our operations, particularly scaling up our live commerce channels and enhancing our operational infrastructure," he said in a statement.
Teoh said Oasis Home plans to allocate RM13.7 million or 48.93 per cent of the proceeds raised to expand live commerce sales channels, including launching at least five new live commerce channels and expanding the team.
He added that a total of RM3.6 million or 12.86 per cent of the proceeds will be
utilised in establishing fulfilment centre, while RM2 million or 7.14 per cent of the amount will be set aside for setting up new headquarter.
MIDF Amanah Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
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