The Edge Business Online - Reach Energy Share Oversubscribed By 41.86 Times

KUALA LUMPUR (Aug 07): Reach Energy Bhd’s 20 million share under the public portion of the initial public offer (IPO) was oversubscribed by 41.86 times.

In a statement, Reach Energy said the valid acceptances and excess applications received amounted to 857.3 million units, an over-subscription of 20 million shares allocated. A total of 23,821 applications for 857.30 million shares were received from the public.

“A total of 10,839 applications for 349.03 million shares were received under the Bumiputera category,” it said, representing an over-subscription rate of 33.90 times.

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1. Reach Energy Share Oversubscribed By 41.86 Times