Malaysia’s Ranhill Energy and Resources raises $236 million from IPO

The engineering and utility company sets the price at the top of the range and allocates the majority of the institutional tranche to domestic investors.
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Ranhill provides engineering services to the oil and gas, refinery and petrochemical industries
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<div style="text-align: left;"> Ranhill provides engineering services to the oil and gas, refinery and petrochemical industries </div>

Malaysia’s Ranhill Energy and Resources has raised M$753 million $236 million from its initial public offering after fixing the price at the top of the indicated range.

Ranhill provides various engineering services to companies in the oil and gas sector, including refineries and petrochemical companies. It also operates two power plants and provides water supply services and wastewater treatment.

It is the second listing candidate in the past few days to price at the top and while the ability to do so depends on what valuation is implied by the range to begin with, it does indicate a greater level of investor confidence with market newcomers.

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