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The Star - Shahul plans O&G SPAC

BackJul 20, 2013

SPACS (special-purpose acquisition companies) are red hot at the moment.

he massive demand for shares of the soon-to-be-listed Sona Petroleum Bhd is testament to that. By some estimates, a whopping RM3bil of liquidity was chasing to get a slice of the RM550mil worth of shares being offered in that IPO. And banking sources claim that demand was more than that RM3bil figure.

Investors are no doubt drawn to the 327% total returns that an IPO investor in Hibiscus Petroleum Bhd (the first listed SPAC) is sitting on.

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  1. Shahul plans O&G SPAC

Reach Energy was incorporated in Malaysia under the Companies Act 1965 as a private limited company on 7 February 2013 under the name of Reach Energy Sdn Bhd. On 2 August 2013 our company converted into a public company and was renamed as Reach Energy Berhad.



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