PETALING JAYA: Evocom Bhd's initial public offering (IPO) shares to the Malaysian public have been oversubscribed by 3.6 times.

Within this, the Bumiputera portion was oversubscribed by 1.73 times, while shares offered to the general public were oversubscribed by 5.46 times.

In a filing with Bursa Malaysia, the logistics and workforce solutions provider noted it private placement of shares to Bumiputera investors, approved by MITI and other selected investors, was also fully taken up. Importantly, no placees emerged as substantial shareholders post-IPO.