Reach Energy lures investors with free warrants under IPO (Update 1)

KUALA LUMPUR: Reach Energy Bhd is offering one billion new shares at 75 sen each under its initial public offer (IPO) and to entice investors, it is offering one warrant for each share subscribed.

The special purpose acquisition company (SPAC) said in its prospectus issued on Thursday that it was offering 980 million shares and 980 million warrants on a one-for-one basis.