Reach Energy Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 20 million shares (together with 20 million warrants). It was oversubscribed by 41.86 times. The IPO attract 23,821 applications or 857.3 million shares.
Notices of Allotment will be dispatched by post to all successful applicants on or before 14th August 2014. Reach Energy is expected to be listed on the Main Market of Bursa Malaysia on 15th August 2014 under stock name “REACH”.
Below are the allotment summary.
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Malaysians have the conviction that Singaporeans are doing far better than Malaysians do. In many specialized areas, indeed, the level of superiority of Singapore seems to be light years away compared to Malaysia. However when all things are smoothened out, and the data is generalized over the entire country (Malaysia is much bigger and populous than its neighbor, by as much as 1,400 times and 6 times respectively), we can see that the overly emphasized achievements of Singapore (or the lack of achievements on the part of Malaysia) will fall apart.
The most overarching example is the comparison of the exchange rate between the two countries.
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Investing in the right channels can be tricky business. Most people approach investing like gambling. They invest their money in what they feel has a good chance of getting a return and hope to get a good return. That’s like placing a “bet” with the hope they will “win big”.
If that’s your approach, you need to shift your focus in investing away from “winning big” instead to “building wealth”.
The concept of building wealth is often misunderstood in our society. Mention it and the first thing that comes to mind is a big house, fast cars, private jets and living the high life. The truth is, wealth is something completely different. In fact, building wealth is a necessity because if there’s ever a day you choose not to work or wouldn’t be able to work, you won’t have to worry about money.
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Reach Energy Bhd, the forth Special Purpose Acquisition Company (SPAC) after Hibiscus Petroleum, CLIQ Energy and Sona Petroleum is scheduled to be listed in Main Market of Bursa Malaysia on 15th August 2014. Reach Energy will be involved in Exploration and Production activities in Oil & Gas. Upon listing, Reach Energy will become the largest SPAC in Malaysia.
SPAC, is a company which has no operations or income generating business at the point of IPO but undertakes an IPO with the intention of acquiring operating companies/businesses with the proceeds raised from the IPO.
The Initial Public Offering (IPO) consists of 1 billion ordinary shares at an IPO price of RM0.75 per share at RM0.01 par value. It comes with 1 free detachable warrant for each share. The warrants will be listed and tradable from the date of listing.
The IPO comprises of 20 million shares with 20 million free warrants made available for application by the Malaysian public via balloting. The rest are for private placement.
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Heng Huat Resources Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 7 million shares. It was oversubscribed by 60.25 times. The IPO attract 14,863 applications or 428.7 million shares.
Notices of Allotment will be dispatched by post to all successful applicants on or before 24th July 2014. Heng Huat Resources is expected to be listed on the Main Market of Bursa Malaysia on 25th July 2014 under stock name “HHGROUP”.
Below are the allotment summary.
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