Saliran group shares sell like hot cakes

KUALA LUMPUR: Saliran Group Bhd’s initial public offering was oversubscribed by more than 76 times ahead of its listing on the Ace Market on March 13. Demand for a slice of the company, which supplies pipes to the oil and gas industry, totalled 1.47 billion shares for 19.15 million shares available, according to the issuing house. The Bumiputera portion was oversubscribed by 48 times, while the remainder was oversubscribed 104.49 times by the public. New shares for select investors through private placement were also fully taken up.