Aiming for the stars: Reach in largest Spac IPO

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By Rashmi Kumar
07 Aug 2014

Reach Energy has become the largest special purpose acquisition company (Spac) to list on Bursa Malaysia, having completed its MR750m ($237m) IPO on August 1.

The IPO consisted of 1bn new shares, split between 980m for institutional investors via a private placement and the remaining going to retail. All the shares came at a fixed price of MR0.75.

But even before books opened on July 24, seven cornerstones had jumped on the deal ...

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