Market blues

Ranhill is one of the largest independent power producers in Sabah, operating two plants, and is involved in the provision of operations and maintenance services for power plants as well as provision of support services.

PETALING JAYA: The listing of Ranhill Holdings Bhd is finally coming to fruition at a time when capital markets are soft, causing it to be significantly undersubscribed by retail investors, which is a rare occurrence among initial public offerings (IPOs) in Malaysia.

The promoters who are not selling their shares have agreed to the shares being sold to retailers at the lowest range of its offer price.