Ranhill IPO Probed by Regulator as Malaysia Listing Deferred


Probe sounds so obscene… Dateline 2013-07-25, The Star.

Malaysia’s Securities Commission is reviewing Ranhill Energy and Resources Bhd.’s 753 million ringgit ($235 million) initial public offering and investors who subscribed may be offered their money back.

The regulator ordered the Kuala Lumpur-based energy and water group and its adviser Maybank Investment Bank Bhd. to postpone the listing slated for next week after an affiliate got a suspension notice from state-owned Petroliam Nasional Bhd. Proceeds from the share sale are being safeguarded by two banks and the Malaysian Issuing House Sdn., Ranhill Energy said in a statement yesterday.

 

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