Ranhill sets final retail share at RM1.20

KUALA LUMPUR: Ranhill Holdings Bhd, en-route for listing on the main market of Bursa Malaysia, has set its initial public offering ( IPO) share price at RM1.20 for institutional and retail investors.

The company said that it has completed the bookbuilding process under the institutional offering, while the retail offering closes on Feb 25, 2016.

“As the final retail price of RM1.20 per issue share is less than the retail price of RM1.70, which was paid in full upon application under the retail offering, a refund of the difference 50 sen per issue share shall be made to successful retail applicants, without any interest thereon,” Ranhill said in a statement yesterday.

As the final retail price of RM1.20 per issue share is less than the retail price of RM1.70, which was paid in full upon application under the retail offering, a refund of the difference 50 sen per issue share shall be made to successful retail applicants, without any interest thereon.

Ranhill

It has received a net total of 2,833 applications, representing 16.03 million issue shares under the retail offering and the retail offering of 120.82 million would be underwritten by joint underwriters, subject to clawback and reallocation under the offering.

Under the institutional offering, 55.54 million issue shares have been allocated to Bumiputera investors and 145.97 million issue shares have been fully allocated to Malaysian and foreign institutional and selected investors.

Ranhill, which planned for listing on Bursa Malaysia on March 16, 2016, is expected to raise RM637.5 million and allocate RM445 million to repay its borrowings. — Bernama