KUALA LUMPUR: Malaysia's Reach Energy Bhd
, a special purpose acquisition company (SPAC) with no existing assets, has locked in up to seven cornerstones for its RM750mil (US$236.93mil) IPO, two sources involved with the deal said.
The IPO could mark Malaysia's largest listing by a shell company with no assets. A SPAC is set up with the intention of buying firms that will be later folded into the business.
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