That's very2 bad.

Maybe only those very2 close to the management knows about it

S,o I can close this TOPIC now.

revisited oso not interested atm

PETALING JAYA (July 29, 2013): Ranhill Energy and Resources Bhd, which withdrew its plans for an initial public offering (IPO) on Friday, said it will refund all monies received to all applicants or investors by Aug 7, 2013, to the respective applicants' address maintained with Bursa Depository.

Ranhill said the decision not to proceed with its IPO was taken after with its principal adviser, Maybank Investment Bank Bhd (Maybank IB) and joint global coordinators, Maybank IB and CIMB Investment Bank Bhd. Ranhill Energy and Resources Bhd was seeking to raise up to RM753 million in its IPO slated this Wednesday.

However, Ranhill said it has every intention to revisit an IPO and to achieve a market listing "at the earliest practicable date".

In a statement on Friday, Ranhill said the Securities Commission (SC) had via its letter dated July 26, 2013 taken note of the board's decision and has notified that its approval granted via its letter dated June 11, 2013 has therefore lapsed.

"Further, via the same letter, the SC also requires Ranhill and Maybank IB to ensure that all application/placement monies received from the applicants/investors are duly refunded in a timely and orderly manner in accordance with Section 245(7)(a) of the Capital Markets & Services Act, 2007 and to notify the SC upon completion of the said refunds," it added.

Meanwhile, Ranhill said its Australian affiliate Perunding Ranhill Worley Sdn Bhd (PRW) had on July 25, 2013 received a letter from Petroliam Nasional Bhd (Petronas) stating that the suspension of PRW's licence for upstream activities had been lifted effective from the date of the letter.

However, the suspension on downstream activities as set out in the letter from Petronas dated July 17, 2013 remains intact.

Ranhill's IPO ran into trouble last Wednesday when the SC deferred its proposed listing after PRW's licence was suspended by Petronas. Ranhill also received flak for not informing the exchange earlier when the licence was suspended on July 17.

Analysts had expected the deferment to severely impact investors mood and will likely affect the company's future listing prospects.#thesundaily

Ranhill should know better about timely disclosure

The thing that puzzles many is Ranhill Energy’s failure to make a disclosure on the suspension, as it was a material development coming very close to its listing. Those who had subscribed to the shares should have been informed of the development.

Why did it then wait for the news to break and only then respond?

Was it trying to contain information so that its listing was not jeopardised?

Was it hoping that its appeal to Petronas would reverse the situation and that it would not have to make the disclosure at all?

Or, was it that it only wanted to announce the suspension after the listing?

That would appear to be an attempt to deceive the market, causing the share price to tank.

Regardless of the questions surrounding the issue, Ranhill Energy’s predicament can be understood, because it is not easy to make a decision when your grand day is just around the corner. But in the corporate world where investments are also made by minority shareholders, investors have a right to know. So, there is no room for excuses for non-disclosure.

something must be wrong in their due dilligence for IPO...anyway...anybody receive the refund already for those initial successful investor ?

refund if not mistaken early week next month.

PETALING JAYA (July 29, 2013): Ranhill Energy and Resources Bhd, which withdrew its plans for an initial public offering (IPO) on Friday, said it will refund all monies received to all applicants or investors by Aug 7, 2013, to the respective applicants' address maintained with Bursa Depository.

good.

thought all the money kept within those investment bank account ?
shall do online refund.

Payment would be made according to your application method.

ATM / Online - Online

Form - Cheque

MITI - I think Cheque

after a year or two, ranhill definitely will relist again.

because the selling shareholder company wants to cash out a bit to settle debt....

malaysian people forget easily

I would remember this IPO failure & would not apply it again. Anything to do with Ranhil or its related companies, I would "blacklisted" it

yeah agree with u, no feel d with Ran Hill...they have to put new name la like that or just create water treatment SPAC loh

same here. wont apply this ranhilll back, wasting my time only.

Tipuhill .....

Say "NO" to Ranhill... Cheers

Nvm repackaged and called Ranhil Again Berhad... 2014 IPO!

Tipu IPO ...the SC and MSWG should investigate the case in detail...looks like they hide something from public...!

sigh, wasted my time. now have to wait a week for my money to be refunded