PETALING JAYA: Reach Energy Bhd
, the fourth oil and gas special-purpose acquisition company (SPAC) to seek a Main Market listing on Bursa Malaysia, will be the largest initial public offering (IPO) for a SPAC by its fundraising size of RM750mil.
SPACs are companies which have no operations or income-generating business at the point of IPO but undertake the listing for the purpose of raising funds to acquire businesses or assets, otherwise known as the qualifying acquisition (QA).
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
