KUALA LUMPUR: Reach Energy Bhd, a special purpose acquisition company enroute to a listing on Bursa Malaysia on August 15 2014, has received overwhelming response to its initial public offering (IPO). A total of 23,821 applications for 857.295 million public issue shares were received from the Malaysian public, representing an oversubscription rate of 41.86 times. The company said yesterday that a total of 10,839 applications for 349.031 million shares were received under the Bumiputera category, representing an oversubscription rate of 33.90 times.
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