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Malaysia Chronicle Online - Investors chase after Reach Energy Bhd warrants
KUALA LUMPUR - Reach Energy Bhd, Malaysia’s largest listed oil and gas special purpose acquisition company (SPAC), was the most active stock on its Bursa Malaysia debut yesterday.
However, its shares slipped eight per cent from its 75-sen issue price to 70.5 sen as investors chased after its warrants more than the mother shares. The shares had at one point fallen by as much as six sen to 69 sen.
The warrants were the most actively-traded securities on the local exchange, gaining a whopping 22 sen from its reference price of half sen price. A total of 556.9 million units were traded.
The company’s shares were the second most-active with a total volume of 294.8 million units.
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