CPE Technology has recently launched its IPO in the Main Market of Bursa Malaysia. The shares are said to be oversubscribed. We will share details about CPE Technology IPO allotment status, subscription status, price band, and listing date below. There are several market listings in Malaysia. CPE has its registration with BURSA. The company has raised around 179.58 million Malaysian ringgit in the IPO. The initial response to the company was superb. However, it fell in price after some time of its launch.
CPE Technology IPO Allotment Status & Subscription Status
CPE Technology opened its IPO on 20 November 2023 and closed on 24 November 2023. The balloting of the application started on 28 November 2023. CPE Technology Berhad has around 761,995 shares offered. The recent price of the shares is said to be 0.915 RM. It is going on -0.155 down. The shares were oversubscribed. However, the shares are allotted to the successful applicants on 6 December 2023.
The company offered 627.49 million new shares worth RM 671.42 million. However, CPE received 12,374 applications for the same. It was 17.69 times oversubscription. The shares belong to two categories. The first is the Bumiputera category, and the second is the public category. The Bumiputera category receives 6,619 applications. It was 14.19 times more than the required. The public category had 5,755 applications for 372.55 million shares. It was 21.20 times more than the required.
CPE Technology Price Band & Listing Date
CPE Technology shares were listed on 7 December 2023. The market opened with a share price of 0.900 RM. However, there were 76,199,500 shares in total volume. It is currently running -0.155 points and a -14.5% fall. The lowest share price was 0.880 RM on Thursday. It touched the highest of 0.970 RM. The company has a market cap of 614.3 million. CPE Q1 fiscal reports for 2024 were 2.57 million RM. The revenue of the company is 22.7 million RM.
Mr. Ang Seng Wong is the founder of CPE Technology. It has a current valuation of RM 71831 million. Lee Chen Yeong is the CEO of the company. The company looks forward to using the funds raised for machinery, loan payments, capital expenditure, and working capital. It raised a total of RM 179.58 million. Half of the funding will be invested in the construction of new plants. We hope you get enough details about the CPE Technology IPO allotment and listing date.