The Sarawak-based oil and gas integrated support services provider said on Tuesday there were 5,509 applications for 347.29 million new shares valued at RM90.29mil from the Malaysian public.

Ocean Vantage is seeking to list on the ACE Market of Bursa Malaysia Securities where its flotation exercise comprised of a public issue of 82.20 million new shares and an offer for sale by the vendors of 41.10 million existing shares at an issue price of 26 sen a share.

The 82.20 million new shares comprised of the 20.6 million shares available for the public; 4.1 million shares available for eligible directors, employees and persons who have contributed to the success of the group; and 57.5 million shares to be placed out.

The company said the 4.11 million new shares available for application by the eligible directors and employees were also fully subscribed and the 57.5 million shares had been placed out.