KUALA LUMPUR: Poultry producer and distributor Farmiera Bhd’s initial public offering (IPO), held in conjunction with its listing on the ACE Market of Bursa Malaysia Securities Bhd, was oversubscribed by 16.69 times.

In a statement today, Tricor Investor & Issuing House Services Sdn Bhd, the issuing house for the IPO, said that a total of 6,554 applications for 397.99 million issued shares were received from the Malaysian public, compared with the 22.5 million shares made available for public subscription.