<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 16): Shares of Ranhill Holdings Bhd fell at the opening bell today on its listing on Bursa Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>At 9.03am, Ranhil lost 10 sen to RM1.10 with 3.93 million shares done.</p></div>

<div class=newsTextDataWrapInner><p>Ranhill had slashed its final retail price by 30% to RM1.20 from RM1.70.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>It originally intended to raise RM637.5 million with the issuance of 475 million shares, from which about 70% will be used to repay borrowings, about 18% for working capital, with the remaining 12% for its water business projects in China.</p></div>

<div class=newsTextDataWrapInner><p>But as a result of the lower final price and a smaller issuance of 322 million shares, the estimated gross IPO proceeds would be reduced to RM386.8 million from the initial target of RM637.5 million, according to Public Investment Bank Research in a note of March 10.</p></div>

<div class=newsTextDataWrapInner><p>The research house also maintained Ranhill’s price to earnings (PER) multiple of 13 times for its power business and 16 times for its water segment, and gave a fair value of RM1.25 on the stock.</p></div>


KUALA LUMPUR (March 16): Shares of Ranhill Holdings Bhd fell at the opening bell today on its listing on Bursa Malaysia.

At 9.03am, Ranhil lost 10 sen to RM1.10 with 3.93 million shares done.

Ranhill had slashed its final retail price by 30% to RM1.20 from RM1.70. 

...

Ranhill active, falls upon listing on Bursa Malaysia

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<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>
