ASM’s new 1b units fully subscribed?

On the 28th November 2008, I read in The Star, ASNB announced the addition of one billion new units of Amanah Saham Malaysia (ASM) for subscription from Monday,1st December 2008. Just to remind you all, the last 6.2 Billion unit was fully subscribed. And now, the remaining 1 billion which on lasted for grab for less than 4 days..


From the Star, 4th December 2008:-

KUALA LUMPUR: Amanah Saham Malaysia’s one billion new units were fully subscribed on Thursday; four days after the additional units were opened for sale on Monday.

These units were subscribed by 154,781 unit holders of which 89,060 are new account holders, representing 58% of the successful investors.

PNB said the additional units were fully subscribed at 10.55am on Thursday or slightly over three days for the entire one billion units. Each account holder was allowed a maximum of 10,000 units each.

PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman said such response from over 150,000 investors in slightly over three days reflected their confidence towards the management of PNB and ASNB.

With the conclusion of the sale, ASM’s fund size had grown to 7.2 billion units from 6.2 billion units.

ASM was launched on April 20, 2000 with an initial fund size of two billion units which were fully subscribed in 21 days.

ASM is a fixed priced unit trust fund opened to all Malaysians aged 6 months and above. Since its launch, the ASM has recorded an average income distribution of 7.12 sen per unit.