Ranhill Holdings Berhad, a energy and water company is scheduled to be listed in Main Market of Bursa Malaysia on the 18th Feb 2016. The listing is basically a reverse takeover (RTO) of Symphony House Bhd which would pave the way for the back-door listing of the group on the Main Market of Bursa Malaysia. This is done following its failed initial public offering attempt in July 2013 on disclosure transgression issues.
The Initial Public Offering (IPO) consists of 475 million shares at an indicative IPO price of RM1.70 per share at RM1.00 par value. Out of these, 354.18 million shares will be offered to institutional investors, 65.99 million shares will be offered to existing shareholders of Symphony House Bhd, 36 million shares to the eligible individuals while the remaining 18.83 million shares will be offered to Malaysian public.
The institutional price will be determined by way of book building while for the retail application, it is payable at RM1.70 upon application. If the final retail price is lower, the difference will be refunded accordingly.