KUALA LUMPUR (Oct 31): The public portion of Spring Art Holdings Bhd's initial public offering (IPO) has been oversubscribed by 14.71 times at 25 sen per share.

The Muar-based ready-to-assemble furniture products maker received a total of 3,751 applications for 326.62 million new shares, valued at RM81.65 million from the Malaysian public compared with only 20.78 million new shares that were made available for public subscription, according to the company's statement.