Aiming for the stars: Reach in largest Spac IPO

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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