KUALA LUMPUR: Impact Capital Holdings Bhd's initial public offering (IPO) has been oversubscribed by 139.69 times ahead of its listing on the ACE Market of Bursa Malaysia on Nov 24.

The ICT infrastructure and systems integration provider received 15,203 applications for 3.38 billion new shares from the Malaysian public.

Under the Bumiputera public portion, Impact Capital received 8,020 applications for 1.63 billion shares, representing an oversubscription rate of 135.15 times.

The other Malaysian public portion attracted 7,183 applications for 1.74 billion shares, translating into an oversubscription rate of 144.23 times.

Impact Capital's IPO comprises a public issue of 96.69 million new shares and an offer for sale of 28.62 million existing shares.

Of the new shares, 24 million were allocated to the Malaysian public, 16 million to eligible directors, employees and other entitled persons, and 56.69 million to selected investors through private placement.

The offer for sale of 28.62 million existing shares will also be placed with selected investors.

Impact Capital managing director Winston Chai Fung Chun said the group would focus on executing its expansion plans following the listing.

"Our focus remains on executing the plans set out in our prospectus, including expanding our operational footprint, strengthening our workforce and business development capabilities, and enhancing our technological capabilities," he said in a statement.

Public Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.