Electronic Share Applications (ESA) and Internet Share Applications
(ISA) applications furnished by all participating ESA banks and internet
participating financial institutions will also be electronically sorted into
the required categories.
Counting of applications is thereafter done.
The subscription results are presented to the Directors of the IPO Issuer for information purposes as well as to determine the basis of allotment of available shares via balloting in the event of oversubscription.
In determining the number of successful applications to be balloted in each category, the Directors will give due consideration to fair distribution to a reasonable number of applicants to ensure a broadened shareholding base which will establish an adequate market in the trading of the shares to be listed. The minimum share spread required under the Listing Requirements of the Bursa Malaysia Securities Berhad will also be observed.
Having decided on the basis of allotment, balloting of successful applicants in each category of shares will be carried out. Using 2 sets of passwords, balloting is electronically done with the 7 digit random numbers assigned to each share application randomly picked by computer. Reserve applications representing about 10% of successful applications will also be balloted. The balloting is conducted in the presence of the Directors of the IPO Issuer and external balloting auditors, the only party with access to the balloting program.
The Securities Commission, Bursa Malaysia and the media are informed of the subscription and balloting results.
Counting of applications is thereafter done.
The subscription results are presented to the Directors of the IPO Issuer for information purposes as well as to determine the basis of allotment of available shares via balloting in the event of oversubscription.
In determining the number of successful applications to be balloted in each category, the Directors will give due consideration to fair distribution to a reasonable number of applicants to ensure a broadened shareholding base which will establish an adequate market in the trading of the shares to be listed. The minimum share spread required under the Listing Requirements of the Bursa Malaysia Securities Berhad will also be observed.
Having decided on the basis of allotment, balloting of successful applicants in each category of shares will be carried out. Using 2 sets of passwords, balloting is electronically done with the 7 digit random numbers assigned to each share application randomly picked by computer. Reserve applications representing about 10% of successful applications will also be balloted. The balloting is conducted in the presence of the Directors of the IPO Issuer and external balloting auditors, the only party with access to the balloting program.
The Securities Commission, Bursa Malaysia and the media are informed of the subscription and balloting results.
