KUALA LUMPUR, February 15 — RichTech Digital Berhad’s Initial Public Offering (IPO) has received an overwhelming response, with its public share allocation oversubscribed by 245.42 times. The strong investor interest underscores confidence in the company’s role in Malaysia’s electronic reload and bill payment sector.
The IPO involves a public issue of 54.66 million new shares and an offer for sale of 25.31 million existing shares, with 10.12 million shares allocated to the Malaysian public. A total of 24,237 applications for 2.49 billion shares were received, representing RM623.63 million in value.
Managing Director Lee Teik Keong expressed gratitude for the exceptional demand, highlighting that the funds raised will accelerate the expansion of RichTech’s proprietary SRS platform and drive digital transformation in Malaysia’s digital economy.
All private placement shares and those allocated to directors and employees were fully subscribed. RichTech Digital Berhad is set to debut on the ACE Market of Bursa Malaysia on February 17, 2025, with KAF Investment Bank Berhad as the Principal Adviser, Sponsor, Underwriter, and Placement Agent.
