PETALING JAYA: ACE Market-bound integrated marketing and branding services provider SBS Nexus Bhd’s 24.5 million new shares made available to the Malaysian public has been oversubscribed by 22.28 times.

The company’s initial public offering involves a public issue of 122.5 million new shares at 25 sen a share to raise RM30.6mil. A separate offer for sale of 49 million existing shares has also been fully subscribed.