Focus Point Pulls Malaysian Stock Listing

Focus Point Holdings Bhd has postponed listing in Kuala Lumpur without any reason as yet. The company said the listing exercise would not have any impact on its business operations.

The company’s listing, which was scheduled for today, was deferred pending an announcement.

“We wish to apologise for any inconvenience caused and expect to provide further details in due course,” it said in a filing to Bursa Malaysia Tuesday.

Focus Point assured investors that all monies are securely held by both the placement agents, OSK Investment Bank Bhd as well as Malaysian Issuing House Sdn Bhd.

The company operates the largest chain of professional eyecare centres nationwide with strong fundamentals and solid financial standing.

Focus Point Holdings Bhd’s 8.25 million shares, allocated for public subscription, were oversubscribed by 2.08 times.

Malaysian Issuing House Sdn Bhd (MIH) said 1,068 applications for 17.141 million shares were received from the public.

A total of 299 applications for 3.689 million shares were received under the Bumiputera category while under the public category 769 applications for 13.452 million shares were received representing a subscription of 3.26 times in this category.

The placement agent confirmed 35.555 million shares, reserved for private placement to identified investors, have been subscribed.

The offer for sale of Focus Point involves 10.0 million shares made available for application by eligible directors, employees and franchisees who have contributed to the company’s success and development.

Shyne Heffernan www.livetradingnews.com

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