July 26, 2004 — The IPO of MEMS Technology Bhd (MemsTech) has been dramatically oversubscribed, according to Malaysian newspaper reports.
The Malay Mail said the public portion of the offering has been oversubscribed by over 151 percent, saying a total of 22,861 applications had been received for 228,893,200 shares, when, in fact, the company only planned to offer 1.5-million shares to public investors.
The company had previously placed 45-million shares with selected investors. The offering is expected sometime in August on the Malaysian Mesdaq. MemsTech makes sensors, microphones and other devices.