Further update in connection with the suspension of the licence issued by Petronas to Perunding Ranhill Worley Sdn Bhd (“PRW”), an affiliate of Ranhill, PRW had on 25 July 2013 received a letter dated 25 July 2013 from Petronas stating that
(i) For upstream activities, Petronas agrees to uplift the suspension of PRW
(ii) For downstream activities, the suspension remains unchanged.
In view of this issue, Ranhill Energy and Resources Board of Directors decided to withdraw the application for the IPO. All application and placement monies for the IPO will be refunded to all applicants and investors without interest no later than 7 August 2013.
[continue reading…]
Ranhill Energy and Resources Berhad, an energy and water company which is scheduled to be listed in Main Market of Bursa Malaysia on the 31st July 2013 decided to delay its IPO.
The decision came after a state oil firm Petronas suspended the licence of Perunding Ranhill Worley Sdn Bhd (“PRW”) for an indefinite period starting 17th July 2013. PRW is owned 51% by Ranhill and 49% by Australia’s WorleyParsons Ltd. On the 18th July 2013, Ranhill submitted an appeal to Petronas against the suspension and is currently awaiting formal response on the appeal.
The licence enables PRW to bid for Malaysian projects awarded by Petronas, which has pledged to spend RM300 billion in capital expenditures between 2011 and 2015.
[continue reading…]
Sona Petroleum Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 141 million shares. It was oversubscribed by 5.97 times. The IPO attract 24,035 applications or 842.27 million shares.
Notices of Allotment will be dispatched by post to all successful applicants on or before 29th July 2013. Sona Petroleum is expected to be listed on the Main Market of Bursa Malaysia on 30th July 2013 under stock name “SONA”.
Below are the allotment summary.
[continue reading…]
Ranhill Energy and Resources Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 19.2 million shares. It was oversubscribed by 12.98 times. The IPO attract 21,840 applications or 268.97 million shares.
The Institutional Price was fixed at RM1.85 per Offer Share. Accordingly, the Final IPO Price for the Retail Offering is fixed at RM1.85 per Offer Share as set out in the prospectus. As such there is no refund to be made to successful retail applicants.
Below are the allotment summary.
[continue reading…]
ABM Fujiya Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 10.5 million shares. It was oversubscribed by 9.77 times. The IPO attract 6,167 applications or 113 million shares.
Notices of Allotment will be dispatched by post to all successful applicants on or before 22nd July 2013. ABM Fujiya is expected to be listed on the Main Market of Bursa Malaysia on 23rd July 2013 under stock name “AFUJIYA”.
Details information are available in Bursa Malaysia webpage.
