RANHILL ENERGY AND RESOURCES BERHAD (Ranhill) announced that it has withdraw their IPO from listing on 31/7/13.
The event was closely related to the suspension of their license by Petronas. Eventhough Petronas agrees to uplift the suspension on upstream activities but the suspension remains unchanged for downstream activities.
In view of these negative development, Ranhill decided not to proceed with the IPO. There will also ensure all application/placement monies for the IPO will be refunded to all applicants or investors without interest soon.