KUALA LUMPUR: Liftech Group Bhd's initial public offering (IPO) has been oversubscribed by 18.92 times ahead of its listing on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement, the industrial lifting and handling equipment specialist said a total of 5,636 applications seeking 314.79 million new shares were received from the Malaysian public for 15.8 million new shares that were made available for public subscription.