PETALING JAYA: Reach Energy Bhd
is proposing to raise up to RM180mil from a private placement to partly finance the purchase of shares of dissenting shareholders who will vote on its maiden acquisition.
Special-purpose acquisition company (SPAC) Reach had announced its maiden acquisition on March 5, involving a 60% stake in a producing onshore oil and gas field called Emir-Oil in Kazakhstan for US$154.9mil.
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