Sentoria's IPO oversubscribed by 5.4 times

KUALA LUMPUR (Feb 15): Sentoria Group Bhd's public tranche under its initial public offering (IPO) on the Main Market of Bursa Malaysia Securities Bhd has been oversubscribed by 5.4 times.

The company said it had received a total of 6,829 applications for 127.2 million shares with a total value of RM108.1 million, for the public tranche of 20.0 million shares under the group's IPO.

"The oversubscription for our IPO indicates the investing community's confidence in our business strength and abilities to grow further in the theme park and resorts sector.

"We believe that the upcoming listing on the Main Market would enhance our balance sheet, which will give us ample opportunities to expand operations, including enriching the visitor experience at Bukit Gambang Resort City (BGRC).

"We are optimistic that our future projects will elevate the Group to greater heights," head of public and investor relations of Sentoria Group Nasiruddin Nasrun said in a statement on Tuesday.

Sentoria, scheduled to be listed on Feb 23, will be the first IPO of 2012.

The company is also the developer of BGRC located in Kuantan, Pahang. It is, the first and largest water park resort city in the east coast of Malaysia. — Bernama