Nope. From the 510 mil shares, 289 mil are shares sold by current shareholders, only 221 mil shares are new shares. So, most of the proceeds will go to the shareholders who sell their shares in this IPO, while the company (ICON) will only get money from the issuance of new shares. you can refer to this in page 16 of their prospectus.

So, rm450 mil divide by 221 shares equals to around rm2.++