United Asiapac Energy launches IPO at 35c/share

Ahmad Fadzuli Ali, Managing Director of United Asiapac Energy, during his speech at the Company’s IPO Prospectus Launch event today, in conjunction with the listing of United Asiapac Energy on the ACE Market of Bursa Malaysia

KUALA LUMPUR: Oil and gas services firm United Asiapac Energy Bhd has launched its initial public offering (IPO) at an issue price of 35 sen per share, with its listing on the ACE Market of Bursa Malaysia Securities Bhd scheduled for Aug 19.

The well intervention solutions provider, in its prospectus unveiled today, said the IPO comprises a public issue of 139.22 million new ordinary shares, of which 27.5 million shares are made available to the Malaysian public.