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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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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Sasbadi Holdings Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 6.35 million shares. It was oversubscribed by 33.15 times. The IPO attract 14,095 applications or 216.8 million shares.
Notices of Allotment will be dispatched by post to all successful applicants on or before 22nd July 2014. Sasbadi Holdings is expected to be listed on the Main Market of Bursa Malaysia on 23rd July 2014 under stock name “SASBADI”.
Below are the allotment summary.
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Sasbadi Holdings Bhd, an educational publisher, is scheduled to be listed in Main Market of Bursa Malaysia on 23th July 2014.
The Initial Public Offering (IPO) consists of 21.20 million new ordinary shares and offer for sale of 35.95 million shares at an IPO price of RM1.19 per share at RM0.50 par value. 75.18 million will be for private placement & selected investors, 6.35 million shares to the Malaysian public and 5.7 million shares for eligible directors & employees.
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