AMID a rout in the shares of Sona Petroleum Bhd and the still-untested business models of special-purpose acquisition companies (SPACs), soon-to-be-listed Reach Energy Bhd
will have much to prove as the new kid on the block.
Sona, fresh from announcing an RM895.2mil deal this week to buy two Thai oil and gas (O&G) blocks from UK’s Salamander Energy Ltd, saw its shares retreat from a high of 61 sen in mid-May to 53.5 sen as at Thursday.
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