The Ranhill Powertron II power plant in Rugading, Sabah. Ranhill has established itself as one of the largest independent power producers in Sabah.
KUALA LUMPUR: Ranhill Holdings Bhd’s final price has been fixed at RM1.20, which is 50 sen below the initial retail price of RM1.70 after the lukewarm response to its listing exercise.
Malaysian Issuing House Sdn Bhd (MIH) announced late Thursday that the institutional price was arrived at after the book building exercise for its listing on the Main Market of Bursa Malaysia Securities.
It said since the final retail price of RM1.20 per share was less than the retail price of RM1.70, there would be a refund of 50 sen per to successful retail applicants without any interest thereon.
MIH said there were 2,833 applications representing 16.03 million shares under the retail offering.
“The retail offering of 120.82 million shares will be underwritten by the joint underwriters, subject to clawback and reallocation provisions under the offering,” it said.
Under the institutional offering of Ranhill, it said 55.53 million shares have been allocated to Bumiputera investors approved by MITI and 145.96 million issue shares have been fully allocated to Malaysian and foreign institutional and selected investors.
“Accordingly, the enlarged issued and paid-up share capital of Ranhill following the completion of the offering is 888.31 million shares.
“In accordance with the terms as set out in the original prospectus dated Dec 31, 2015 issued by Ranhill, the selling shareholder has also, in its absolute discretion, decided not to offer shares for sale under the offering,” it said.
On Jan 29, Ranhill announced it had delayed its proposed listing on the Main Market of Bursa Malaysia from Feb 18 to March 16, citing that institutional investors wanted more time to deliberate.
Ranhill, which is involved in environment and energy sectors, had then said it had extended its public offering to Feb 25 for retail investors and Feb 29 for the institutional investors.
Ranhill has businesses in the environment and energy sectors. Through its environment business, Ranhill, via its subsidiary SAJ Holdings Sdn Bhd, is the exclusive water operator for the entire State of Johor, providing water supply services to the second most populous state in Malaysia.
It also operates water and wastewater treatment plants, non-revenue water reduction and specialised services in the management and optimisation of water utility assets.
Ranhill also has water and wastewater concessions in China and Thailand, with total combined design capacity of more than 400 million litres per day.
In China, Ranhill operates 10 water, industrial wastewater and water recycling plants in the provinces of Henan, Anhui, Jiangxi and Liaoning.
It is also involved in power generation and is one of the largest independent power producers in Sabah.
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