Mun Siong Engineering, the integrated mechanical engineering and electrical and instrumentation services provider for process industries, including the oil and gas industry, has garnered strong interest from institutional and retail investors for its initial public offering (IPO).

The offering comprised 107 million new shares priced at 20 cents each. Of these, 105 million shares were available by way of placement while two million shares were made available for public subscription.

At the close of the IPO at 12.00 noon on 20 October 2010, there were 7,227 valid applications received for the offer shares. In total, these applicants applied for an aggregate of 543.3 million offer Shares, with application monies received amounting to approximately $108.7 million.

Based on the aggregate offering of 107 million new shares and total valid applications received for 648.3 million new shares (comprising 543.3 million offer shares and 104.98 million placement shares), the IPO was 6.1 times subscribed.