Reach Ten to raise RM104mil from IPO to expand telecoms infrastructure

From left: M & A Securities Sdn Bhd associate director Lee Yoke Wah, Reach Ten Holdings Bhd executive director Lu Pak Lim, Reach Ten chairman Datuk Amar Jaul Anak Samion, Sarawak Deputy Premier Datuk Amar Professor Dr. Sim Kui Hian, Reach Ten managing director Leo Chin, M & A Equity Holdings Bhd managing director Datuk Bill Tan, M & A Securities head of corporate finance Gary Ting Hua Tai and M & A Securities deputy head of corporate finance Danny Wong.

KUALA LUMPUR: Sarawak-based telecommunications provider Reach Ten Holdings Bhd is set to raise RM104mil through its initial public offering (IPO) ahead of its planned Main Market listing on May 2, 2025.

The company stated that its IPO is priced at 52 sen per share, projecting a market capitalisation of RM520mil upon listing, based on an enlarged share base of one billion shares.