Have you ever read the definition of a shell company?
Dateline 2014-05-12, Reuters:
Malaysia’s Reach Energy Bhd, a special-purpose acquisition company (SPAC) with no existing assets, plans to list shares on the local bourse in a deal to fetch 750 million ringgit ($232 million), according to a draft prospectus published on Monday.
The deal, which is expected in July this year, could mark Malaysia’s largest listing by a shell company with no assets. A SPAC is set up with the intention of buying firms that will be later folded into the business.
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Wata - Malaysian Oil and Gas Engineer 