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> IPO: Sona Petroleum Berhad, SPAC IPO

davinz18
post Mar 7 2013, 05:47 PM


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Sona Petroleum Bhd, a special purpose acquisition company (SPAC), is eyeing to raise up to RM550 million from its initial public offering (IPO) exercise on the Main Market of Bursa Malaysia Securities.

In its prospectus exposure on Securities Commission Malaysia’s (SC) website Thursday, the company said its IPO comprises issuing up to 1.1 billion new shares of one sen each, together with up to 1.1 billion free detachable warrants on the basis one warrant for every one new share subscribed.

Sona in its prospectus exposure said it is offering 141 million shares or 10% of its paid-up share capital for retail offering and up to 959 million shares or 68% stake as institutional offering via private placement.

The company said the minimum number of shares to be subscribed under its IPO is 300 million shares that would raise RM300 million as required in respect of a SPAC, in accordance with the Equity Guidelines.

“We believe that by raising RM150 million we would have sufficient proceeds to acquire an asset as our qualifying acquisition.

“However, we are offering up to 1.1 billion shares so as to raise up to RM550 million under our IPO as we believe a larger capital base may give us more options when we acquire an asset as our qualifying acquisition,” it said.

Nonetheless, the company said its management team believes that any amount between RM150 million and RM550 million would still place Sona in a favourable position to complete its qualifying acquisition.

The company intends to set aside 90% of its IPO proceeds for its qualifying acquisition and thereafter, other asset acquisition.

Sona said some RM33.8 million from its IPO proceeds would be utilised as working capital to finance its operating expenses.

Sona is helmed by managing director Datuk Seri Hadian Hashim, who is a major shareholder in Integrated Petroleum Services Sdn Bhd, a company that provides services and products to the upstream oil and gas sector.

The company’s executive director is Datuk Masnah Abdul Jalil, who was head of corporate finance and principle investments at Hong Leong Financial Group Bhd.

Prior to that, Maznah was senior group director for corporate finance and advisory of DRB-HICOM Bhd.

Sona Petroleum Bhd was formerly known as: Titanium Windfall Sdn Bhd.

This post has been edited by davinz18: Aug 26 2013, 03:51 PM
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chrisw
post Mar 7 2013, 05:50 PM


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when? hmm.gif
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davinz18
post Mar 7 2013, 06:00 PM


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QUOTE(chrisw @ Mar 7 2013, 05:50 PM)
when? hmm.gif
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Maybe another few months, depend on SC approval.
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hyzam1212
post Mar 8 2013, 02:58 PM


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Sorry Mod...havent noticed the ori thread
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clevermunkeygirl
post Mar 25 2013, 03:43 PM


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QUOTE(davinz18 @ Mar 7 2013, 06:00 PM)
Maybe another few months, depend on SC approval.
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heard gonna be sometime in May. Looking forward to it - rclxms.gif Heard that the key management team is super strong with loads of experience in the O&G industry. Hibiscus is doing well so i bet there's plenty potential for this one. I heard it's gonna be cheaper per share. not sure yet.
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ilovemani
post Mar 25 2013, 04:31 PM


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QUOTE(davinz18 @ Mar 7 2013, 05:47 PM)
Sona Petroleum Bhd, a special purpose acquisition company (SPAC), is eyeing to raise up to RM550 million from its initial public offering (IPO) exercise on the Main Market of Bursa Malaysia Securities.

In its prospectus exposure on Securities Commission Malaysia’s (SC) website Thursday, the company said its IPO comprises issuing up to 1.1 billion new shares of one sen each, together with up to 1.1 billion free detachable warrants on the basis one warrant for every one new share subscribed.

Sona in its prospectus exposure said it is offering 141 million shares or 10% of its paid-up share capital for retail offering and up to 959 million shares or 68% stake as institutional offering via private placement.

The company said the minimum number of shares to be subscribed under its IPO is 300 million shares that would raise RM300 million as required in respect of a SPAC, in accordance with the Equity Guidelines.

“We believe that by raising RM150 million we would have sufficient proceeds to acquire an asset as our qualifying acquisition.

“However, we are offering up to 1.1 billion shares so as to raise up to RM550 million under our IPO as we believe a larger capital base may give us more options when we acquire an asset as our qualifying acquisition,” it said.

Nonetheless, the company said its management team believes that any amount between RM150 million and RM550 million would still place Sona in a favourable position to complete its qualifying acquisition.

The company intends to set aside 90% of its IPO proceeds for its qualifying acquisition and thereafter, other asset acquisition.

Sona said some RM33.8 million from its IPO proceeds would be utilised as working capital to finance its operating expenses.

Sona is helmed by managing director Datuk Seri Hadian Hashim, who is a major shareholder in Integrated Petroleum Services Sdn Bhd, a company that provides services and products to the upstream oil and gas sector.

The company’s executive director is Datuk Masnah Abdul Jalil, who was head of corporate finance and principle investments at Hong Leong Financial Group Bhd.

Prior to that, Maznah was senior group director for corporate finance and advisory of DRB-HICOM Bhd.

Sona Petroleum Bhd was formerly known as: Titanium Windfall Sdn Bhd.
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What are your thoughts on this new SPAC?
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ilovemani
post Mar 25 2013, 04:32 PM


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QUOTE(clevermunkeygirl @ Mar 25 2013, 03:43 PM)
heard gonna be sometime in May. Looking forward to it -  rclxms.gif  Heard that the key management team is super strong with loads of experience in the O&G industry. Hibiscus is doing well so i bet there's plenty potential for this one. I heard it's gonna be cheaper per share. not sure yet.
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why cheaper? then should be a good buy
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davinz18
post Mar 25 2013, 06:32 PM


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QUOTE(ilovemani @ Mar 25 2013, 04:31 PM)
What are your thoughts on this new SPAC?
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looks okay for me
management also good.

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fiqir
post Mar 25 2013, 08:20 PM


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this would be spac after Cliq energy.
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GloryKnight
post Mar 25 2013, 11:08 PM


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CLIQ energy should be better than this, if BN wins, then this SPAC would be good. Why?

Keyword:-Sona is helmed by managing director Datuk Seri Hadian Hashim, who is a major shareholder in Integrated Petroleum Services Sdn Bhd, a company that provides services and products to the upstream oil and gas sector.

More business/more connections/more undertab- oops.
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ilovemani
post Mar 26 2013, 12:16 PM


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QUOTE(davinz18 @ Mar 25 2013, 06:32 PM)
looks okay for me
management also good.
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then might invest! since i miss out on hibiscus. and if cheaper then good!
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what-the-wong1975
post Mar 26 2013, 03:39 PM


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QUOTE(ilovemani @ Mar 26 2013, 12:16 PM)
then might invest! since i miss out on hibiscus. and if cheaper then good!
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Ya, I’m saving bullets for SONA coz I think they knows their stuff.
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minshome
post Mar 26 2013, 04:10 PM


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Why most ppl think SONA is better than CLIQ???
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clevermunkeygirl
post Mar 26 2013, 04:30 PM


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QUOTE(minshome @ Mar 26 2013, 04:10 PM)
Why most ppl think SONA is better than CLIQ???
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yea, i m also interested to know. same E&P ventures...

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ChinCC12345
post Mar 26 2013, 10:20 PM


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QUOTE(ilovemani @ Mar 26 2013, 12:16 PM)
then might invest! since i miss out on hibiscus. and if cheaper then good!
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With MD’s involvement in a relevant industry, it’s better for business. SPACs are all about management - no business portfolios to see so the ppl behind is very important. Eager to see how this goes compared to Hibiscus and CLIQ.

Personally i think there's investment potential, given that the O&G industry is looking good.
Plus, SPACs are safer.
Very eager and excited to see how these few SPACs perform.
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what-the-wong1975
post Mar 31 2013, 12:27 AM


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QUOTE(clevermunkeygirl @ Mar 26 2013, 04:30 PM)
yea, i m also interested to know. same E&P ventures...
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In recent news, I heard another SPAC, Australaysia over exposed details. Looks like it's not gonna be listed anytime soon.
If you missed the Hibiscus boat then looks like Sona is still the way to go. Stronger management compared to other SPACs.
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ChinCC12345
post Apr 5 2013, 09:40 AM


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QUOTE(what-the-wong1975 @ Mar 31 2013, 12:27 AM)
In recent news, I heard another SPAC, Australaysia over exposed details. Looks like it's not gonna be listed anytime soon.
If you missed the Hibiscus boat then looks like Sona is still the way to go. Stronger management compared to other SPACs.
*
Check this out: http://flyingspaghettimonster.com/portal/forums/showthre...65#post16744065
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ilovemani
post Apr 7 2013, 10:37 PM


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There’s been a lot of talks in the market about SPAC lately. Four more SPAC listings are expected to follow in the footsteps of Hibiscus Petroleum, who was the first SPAC to list on Bursa Malaysia in July 2011.

Also to list their SPAC is Sona Petroleum Berhad. Based on its draft exposure released on the SC website recently, the Initial Public Offering, commonly called the IPO could potentially be the largest SPAC in Malaysia with a fundraising size of up to RM550 million. The company’s focus is on the Exploration & Production (E&P) segment of the lucrative Oil & Gas chain with target markets or Regions of Interest in South East Asia, the Middle East and Africa.

For those of you who aren’t familiar with what a SPAC is, SPAC is short for Special Purpose Acquisition Company and is a company that has no operations or income generating business at the point of IPO, and has yet to complete a Qualifying Acquisition (QA) with the proceeds of such offering.

The several key aspects of a SPAC are basically:
1. Management’s credibility
2. Investor Protection
3. Refund Flexibility and
4. Alignment of interest between investors and management

A SPAC must have a credible management team who can identify attractive targets and make value creating acquisitions that will meet the SPAC’s strategy and enhance shareholders’ value.

The management team must have the track record, qualifications and experience that are relevant to specific industries where acquisitions are intended to be made and to achieve the SPAC’s business strategy as laid out in the prospectus and to competently perform their individual roles.

In Sona’s case, its management team will be led by Oil & Gas Veteran Dato’ Sri Hadian bin Hashim, who started his career with Sarawak Shell and later ventured into Oil & Gas industry-related business from 1995 onwards. His passion for the industry is justified as he has with him over 30 years of experience as an engineer and entrepreneur in the Oil & Gas industry.

The entire board of directors, the majority of which will be running the E&P business, have a combined experience of over 390 years in the Oil and Gas industry.

According to the draft prospectus exposure, Sona Petroleum will be offering up to 1.1 billion shares at RM0.50 per share with up to 1.1 billion free detachable warrants on the basis of 1 warrant to every share.

It is also interesting to note that this will be the first SPAC with a MITI Bumiputera offering in the Institutional Offering tranche.

Just like any other SPAC, Sona Petroleum is dependent on the management’s capability of successfully acquiring the right kind of assets within the permitted timeframe of 3 years. Once listed, 90% of the proceeds raised will be placed in a trust or escrow account which is interest bearing. Any SPAC that fails to complete a QA within the permitted timeframe, the company will have to be liquidated and investors will receive the money held in the trust account.

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clevermunkeygirl
post Apr 8 2013, 11:26 AM


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QUOTE(davinz18 @ Mar 7 2013, 05:47 PM)
Sona Petroleum Bhd, a special purpose acquisition company (SPAC), is eyeing to raise up to RM550 million from its initial public offering (IPO) exercise on the Main Market of Bursa Malaysia Securities.

In its prospectus exposure on Securities Commission Malaysia’s (SC) website Thursday, the company said its IPO comprises issuing up to 1.1 billion new shares of one sen each, together with up to 1.1 billion free detachable warrants on the basis one warrant for every one new share subscribed.

Sona in its prospectus exposure said it is offering 141 million shares or 10% of its paid-up share capital for retail offering and up to 959 million shares or 68% stake as institutional offering via private placement.

The company said the minimum number of shares to be subscribed under its IPO is 300 million shares that would raise RM300 million as required in respect of a SPAC, in accordance with the Equity Guidelines.

“We believe that by raising RM150 million we would have sufficient proceeds to acquire an asset as our qualifying acquisition.

“However, we are offering up to 1.1 billion shares so as to raise up to RM550 million under our IPO as we believe a larger capital base may give us more options when we acquire an asset as our qualifying acquisition,” it said.

Nonetheless, the company said its management team believes that any amount between RM150 million and RM550 million would still place Sona in a favourable position to complete its qualifying acquisition.

The company intends to set aside 90% of its IPO proceeds for its qualifying acquisition and thereafter, other asset acquisition.

Sona said some RM33.8 million from its IPO proceeds would be utilised as working capital to finance its operating expenses.

Sona is helmed by managing director Datuk Seri Hadian Hashim, who is a major shareholder in Integrated Petroleum Services Sdn Bhd, a company that provides services and products to the upstream oil and gas sector.

The company’s executive director is Datuk Masnah Abdul Jalil, who was head of corporate finance and principle investments at Hong Leong Financial Group Bhd.

Prior to that, Maznah was senior group director for corporate finance and advisory of DRB-HICOM Bhd.

Sona Petroleum Bhd was formerly known as: Titanium Windfall Sdn Bhd.
*
Check out their latest news: http://www.btimes.com.my/Current_News/BTIM...s/sona/sona.pdf
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Mustaffa AL
post Jun 6 2013, 10:23 AM


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Dear everybody,

I'm in the opinion that we shouldn't invest at all in these so-called SPAC companies in Bursa. I think it is a scam that majority Malaysian public is not aware that E & P business is a very risky venture. I firmly believe that our Securities Commission is very naive or purportedly staging a good scam in luring the public to put their money in investing their CRPS or the like.

As my background as an E & P engineer spanning some 24 odd years worldwide, I would like to share my experience especially taking Hibiscus Petroleum Bhd as the case study. I have tried to download Sona Petroleum Bhd's Prospectus but unfortunately it is now not available sort of the SC has pull-out its contents or else. Please try peruse:http://www.sc.com.my/main.asp?pageid=1250. Could someone share with me on their prospectus please?

Now looking at Hibiscus Petroleum Bhd, back in Oct 2011 they announced to pay USD55 million for 35% shares holding in Lime Petroleum PLC. After SC approval and EGM in April 2012 they paid accordingly. Until today Lime Petroleum PLC is doing all high risk exploratory E & P ventures and had relinquished major blocks in UAE. Most recently they partnered with North Energy ASA to explore Rex technology and paid NOK31.8 million. However North Energy ASA had spent NOK1,061 million and accruing losses of NOK601 million in their 2012 balance sheet so far while not a single drop of oil is extracted out from their E & P venture. I think Hibiscus Petroleum Bhd is not going any much longer than try to sustain the momentum of pouring Malaysian public investment into dry wells or high risk exploratory offshore oil ventures. Historically only oil majors are doing these ventures since they have bigger purse to spend. Rex technology so-called resonance analysis from seismic data is a truly scam - not new but been tried many by oil majors before! I felt very upset how could Hibiscus Petroleum Bhd people like Mohd Iwan Jefy A Majid, David Richards, Dr. Rabi Bastia Padmashree, Dr. Kenneth Pereira, Zainol Izzet Mohd Ishak and Zainul Rahim Mohd Zain who has vast experience in E & P business before could fell into this sort of believe? The only venture looks promising is their AUD27 million acquisition of Australian West Seahorse, Sea Lion and Felix fields. However the oil reserve is small at 7.2 MMBO which is very expensive farm-in. I reckon they need another AUD250 million just to prepare to drain out the oil there in the near future. This will unfortunately delay their return to profit timeline! Of lately they are trying to raise another RM210 million or USD70 million to sustain their operations.

I do not know what are the plan of Sona Petroleum Bhd and Cliq Energy Bhd but a simple conclusion is that, an oil company is not an oil company until it produce oil or flowing gas! That are the main matters. These oil and gas the the bloodline of the company. Pity our SC and Bursa didn't learn from the experience of NASDAX, NYSE, LSE, DAX, TSX, ASX and others in evaluating an E & P Companies. Maybe they think Idris Jala is a genius in promoting so called the economic transformation - into an E & P doldrums. rclxub.gif
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minshome
post Jun 6 2013, 11:15 AM


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nice say...
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tiramisu83
post Jun 8 2013, 06:26 PM


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Hey guys, I heard my friend said his Malay friend can get him a pink form with financing in this IPO, may I know what is this means? Means can 100% get the IPO?
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davinz18
post Jun 8 2013, 06:46 PM


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QUOTE(tiramisu83 @ Jun 8 2013, 06:26 PM)
Hey guys, I heard my friend said his Malay friend can get him a pink form with financing in this IPO, may I know what is this means? Means can 100% get the IPO?
*
http://www.btimes.com.my/articles/20130425000709/Article/


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tiramisu83
post Jun 8 2013, 07:10 PM


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QUOTE(davinz18 @ Jun 8 2013, 06:46 PM)
Then I just curious what is the main difference between pink form and if I buy via ATM? Is pink form has the higher chance to get it?
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hyzam1212
post Jun 8 2013, 07:21 PM


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QUOTE(tiramisu83 @ Jun 8 2013, 07:10 PM)
Then I just curious what is the main difference between pink form and if I buy via ATM? Is pink form has the higher chance to get it?
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The general consensus is higher but they just dont want to guarantee you, I think thats it....if u get such opportunity no harm in applying because obviously through atm is even harder
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wisillichok
post Jun 8 2013, 11:49 PM


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QUOTE(tiramisu83 @ Jun 8 2013, 06:26 PM)
Hey guys, I heard my friend said his Malay friend can get him a pink form with financing in this IPO, may I know what is this means? Means can 100% get the IPO?
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Pink form is meant for employee. almost 100% chances,
however I thk under his/her name not yours
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tiramisu83
post Jun 9 2013, 10:57 AM


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QUOTE(wisillichok @ Jun 8 2013, 11:49 PM)
Pink form is meant for employee. almost 100% chances,
however I thk under his/her name not yours
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Maybe his Malay friend has no money, so ask my friend like a joint investment with him, if untung then share profit..but a bit risk as is not under my friends name
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Mikken
post Jun 9 2013, 12:08 PM


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QUOTE(Mustaffa AL @ Jun 6 2013, 11:23 AM)
Dear everybody,

I'm in the opinion that we shouldn't invest at all in these so-called SPAC companies in Bursa. I think it is a scam that majority Malaysian public is not aware that E & P business is a very risky venture. I firmly believe that our Securities Commission is very naive or purportedly staging a good scam in luring the public to put their money in investing their CRPS or the like.

As my background as an E & P engineer spanning some 24 odd years worldwide, I would like to share my experience especially taking Hibiscus Petroleum Bhd as the case study. I have tried to download Sona Petroleum Bhd's Prospectus but unfortunately it is now not available sort of the SC has pull-out its contents or else. Please try peruse:http://www.sc.com.my/main.asp?pageid=1250. Could someone share with me on their prospectus please?

Now looking at Hibiscus Petroleum Bhd, back in Oct 2011 they announced to pay USD55 million for 35% shares holding in Lime Petroleum PLC. After SC approval and EGM in April 2012 they paid accordingly. Until today Lime Petroleum PLC is doing all high risk exploratory E & P ventures and had relinquished major blocks in UAE. Most recently they partnered with North Energy ASA to explore Rex technology and paid NOK31.8 million. However North Energy ASA had spent NOK1,061 million and accruing losses of NOK601 million in their 2012 balance sheet so far while not a single drop of oil is extracted out from their E & P venture. I think Hibiscus Petroleum Bhd is not going any much longer than try to sustain the momentum of pouring Malaysian public investment into dry wells or high risk exploratory offshore oil ventures. Historically only oil majors are doing these ventures since they have bigger purse to spend. Rex technology so-called resonance analysis from seismic data is a truly scam - not new but been tried many by oil majors before! I felt very upset how could Hibiscus Petroleum Bhd people like Mohd Iwan Jefy A Majid, David Richards, Dr. Rabi Bastia Padmashree, Dr. Kenneth Pereira, Zainol Izzet Mohd Ishak and Zainul Rahim Mohd Zain who has vast experience in E & P business before could fell into this sort of believe? The only venture looks promising is their AUD27 million acquisition of Australian West Seahorse, Sea Lion and Felix fields. However the oil reserve is small at 7.2 MMBO which is very expensive farm-in. I reckon they need another AUD250 million just to prepare to drain out the oil there in the near future. This will unfortunately delay their return to profit timeline! Of lately they are trying to raise another RM210 million or USD70 million to sustain their operations.

I do not know what are the plan of Sona Petroleum Bhd and Cliq Energy Bhd but a simple conclusion is that, an oil company is not an oil company until it produce oil or flowing gas! That are the main matters. These oil and gas the the bloodline of the company. Pity our SC and Bursa didn't learn from the experience of NASDAX, NYSE, LSE, DAX, TSX, ASX and others in evaluating an E & P Companies. Maybe they think Idris Jala is a genius in promoting so called the economic transformation - into an E & P doldrums. rclxub.gif
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Well said. Spac is a risky business. Invest with your spare money

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hyzam1212
post Jun 15 2013, 12:12 PM


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Listing approval confirmed...this shld be a bit fierce on the subscription

http://biz.thestar.com.my/news/story.asp?f...00&sec=business

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fiqir
post Jun 15 2013, 12:28 PM


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good news. nice
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ah_fui
post Jun 15 2013, 06:00 PM


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when its going to ipo ?
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john123x
post Jun 15 2013, 07:22 PM


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waiting for the prospectus
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davinz18
post Jun 15 2013, 07:26 PM


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Sona to spend RM495mil to acquire assets

Sona Petroleum Bhd, which is expected to raise RM550 million from its initial public offering (IPO) exercise, will use RM495 million to acquire assets, RM33.79 million for working capital and RM21.21 million for the estimated listing expenses.

The special-purpose acquisition company (SPAC) said it planned to operate as an independent exploration and production (E&P) company. Sona Petroleum managing director, Hadian Hashim, said the company aimed to acquire assets in the E&P phases of the oil and gas value chain.

"The recent developments, coupled with the current conditions of the oil and gas industry, present both a favourable environment for acquisitions and an attractive operating environment of E&P assets. "Our IPO would provide a strong platform for us to launch the company's maiden foray in the E&P industry," he said

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cadmus
post Jun 17 2013, 09:44 AM


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QUOTE(Mustaffa AL @ Jun 6 2013, 10:23 AM)
Dear everybody,

I'm in the opinion that we shouldn't invest at all in these so-called SPAC companies in Bursa. I think it is a scam that majority Malaysian public is not aware that E & P business is a very risky venture. I firmly believe that our Securities Commission is very naive or purportedly staging a good scam in luring the public to put their money in investing their CRPS or the like.

As my background as an E & P engineer spanning some 24 odd years worldwide, I would like to share my experience especially taking Hibiscus Petroleum Bhd as the case study. I have tried to download Sona Petroleum Bhd's Prospectus but unfortunately it is now not available sort of the SC has pull-out its contents or else. Please try peruse:http://www.sc.com.my/main.asp?pageid=1250. Could someone share with me on their prospectus please?

Now looking at Hibiscus Petroleum Bhd, back in Oct 2011 they announced to pay USD55 million for 35% shares holding in Lime Petroleum PLC. After SC approval and EGM in April 2012 they paid accordingly. Until today Lime Petroleum PLC is doing all high risk exploratory E & P ventures and had relinquished major blocks in UAE. Most recently they partnered with North Energy ASA to explore Rex technology and paid NOK31.8 million. However North Energy ASA had spent NOK1,061 million and accruing losses of NOK601 million in their 2012 balance sheet so far while not a single drop of oil is extracted out from their E & P venture. I think Hibiscus Petroleum Bhd is not going any much longer than try to sustain the momentum of pouring Malaysian public investment into dry wells or high risk exploratory offshore oil ventures. Historically only oil majors are doing these ventures since they have bigger purse to spend. Rex technology so-called resonance analysis from seismic data is a truly scam - not new but been tried many by oil majors before! I felt very upset how could Hibiscus Petroleum Bhd people like Mohd Iwan Jefy A Majid, David Richards, Dr. Rabi Bastia Padmashree, Dr. Kenneth Pereira, Zainol Izzet Mohd Ishak and Zainul Rahim Mohd Zain who has vast experience in E & P business before could fell into this sort of believe? The only venture looks promising is their AUD27 million acquisition of Australian West Seahorse, Sea Lion and Felix fields. However the oil reserve is small at 7.2 MMBO which is very expensive farm-in. I reckon they need another AUD250 million just to prepare to drain out the oil there in the near future. This will unfortunately delay their return to profit timeline! Of lately they are trying to raise another RM210 million or USD70 million to sustain their operations.

I do not know what are the plan of Sona Petroleum Bhd and Cliq Energy Bhd but a simple conclusion is that, an oil company is not an oil company until it produce oil or flowing gas! That are the main matters. These oil and gas the the bloodline of the company. Pity our SC and Bursa didn't learn from the experience of NASDAX, NYSE, LSE, DAX, TSX, ASX and others in evaluating an E & P Companies. Maybe they think Idris Jala is a genius in promoting so called the economic transformation - into an E & P doldrums. rclxub.gif
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Wow, your first post after signing up.

Anyway, agree with your thoughts. However, i would split it into 2 section.

1st section is pre-acquisition. The 1st section is risky up to certain extend. If you purchases the mother share for SPAC company below the protected amount, your fund is protected in a trust fund (to be confirm with new SPAC IPO. CLIQ have such clause). For example, for CLIQ, your fund is protected up to RM0.675/share minus some charges (if fails to acquire any assets within 3 years).

2nd section is post-acquisition. Your statement is about post-acquisition risk. Therefore, you'll have to treat it as another company instead of SPAC because it already have some assets. High risk but may be rewarded with good returns for exploration and productions. Depending on the Management's Due Diligence during the acquisition period.

For post-acquisition, I wouldn't say "SPAC" but would say the Company is risky, cos its another E&P company.

Instead, i would agree if you say "SPAC" is risky, pre-acquisition, up to a certain limit (if you buy at RM1/share (e.g) during this stage and the protected amount is up to RM0.675/share only, you are actually loosing RM0.325/share ++ if the SPAC fails to take off within 3 years)
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HUNGRY BIRD
post Jun 18 2013, 02:01 PM


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SONA PETROLEUM :
result for IPO application thru MITI is already out. can check after 2pm today.
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fiqir
post Jun 18 2013, 02:44 PM


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yup, miti result for sona petroleum already out. nice
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fiqir
post Jun 18 2013, 02:56 PM


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Malaysia's Sona Petroleum to raise nearly $160 mln in IPO

(Reuters) - Malaysia's Sona Petroleum plans to raise more than 500 million ringgit ($159.62 million) in an initial public share offering, making it the biggest special purpose acquisition company (SPAC) to be listed so far in the southeast Asian country.

Sona Petroleum said in a statement on Friday it would offer 1.1 billion ordinary shares at an issue price of 0.50 ringgit per share. Each share will be issued with a free detachable warrant.

The oil and gas company did not give a specific date for its debut on the Kuala Lumpur stock exchange, but said the Securities Commission had approved the IPO.

SPACs like Sona Petroleum are known as blank cheque IPOs as the firms raise money through the stock exchange without a single asset other than a plan to buy assets or other firms that will be injected into the entity.

In this case, Sona Petroleum will look to buy oil and gas production assets in southeast Asia, the Middle East and parts of Africa, the company said. After the acquisitions, the firm said, it will operate as an independent exploration and production company.

Sona Petroleum's listing follows an April IPO by another oil and gas firm, Cliq Energy, which raised about $120 million.

Another two are going for IPOs as political risk ebbs after May elections, opening up the deal pipeline for 2013. In 2012, Malaysia had a record year for IPOs with the listing of plantation operator Felda Global and hospital operator IHH Healthcare. ($1 = 3.1325 Malaysian ringgit) (Reporting by Niluksi Koswanage; editing by Tom Pfeiffer)
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hyzam1212
post Jun 18 2013, 02:59 PM


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Cliq Mk 2...100% subscription again? can ride on cliq uncertain announcement
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minshome
post Jun 18 2013, 03:09 PM


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how much the value for sona share + warrant?
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HUNGRY BIRD
post Jun 18 2013, 04:12 PM


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indicative price RM0.50
(portion for warrant - no info yet..)
expected listing date 30/7/2013
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kamrulbj6107
post Jun 20 2013, 03:18 PM


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this SONA good or not?
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davinz18
post Jun 24 2013, 04:27 PM


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Sona Petroleum aims to raise RM550mil from IPO

Sona Petroleum Bhd, a special purpose acquisition company (Spac), has signed an underwriting agreement for its proposed initial public offering (IPO). The company hopes to raise RM550 million from the IPO.

CIMB Investment Bank and RHB Investment Bank have been appointed the joint principal advisers, joint placement agents, joint managing underwriter and joint underwriters.

Kenanga Investment Bank and MIDF Amanah Investment Bank are the joint underwriters for the company's IPO exercise. Sona Petroleum, which will be listed on the Main Market of Bursa Securities, hopes to complete its listing exercise in the second half of 2013.

The company's IPO involves a public issue of up to 1.1 billion new ordinary shares of RM0.01 each.

The shareholders will be given free detachable warrants of up to 1.1 billion on the basis of one warrant for every one public issue share, with the conversion price expected at 35 sen each within five years.

The agreement was signed between Datuk Seri Hadian Hashim, Managing Director and Non-Independent Executive Director of Sona Petroleum, and representatives of the respective investment banks.

At a press conference, Hadian said:"As a Spac, the company has no operations or income generating business at the point of IPO and the fund raised will be used for the purpose of acquiring operating companies or assets in exploration and production.

"We are given three years after listing to explore the acquisition and confident of meeting the timeline. We are currently eyeing specific regions like Middle-east, Africa and Southeast Asia for investments."




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fiqir
post Jun 24 2013, 04:59 PM


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Sona Petroleum to see revenue within three years

KUALA LUMPUR (June 24): Sona Petroleum is expecting to generate revenue within three years after being listed on the Main Market of Bursa Securities, said its managing director Datuk Sri Hadian Hashim.

“Once we have a production asset, the revenue will start coming in,” he said after signing an underwriting agreement with CIMB Investment Bank Bhd, RHB Investment Bank Bhd, Kenanga Investment Bhd and MIDF Amanah Investment today.

Sona Petroleum is a special purpose acquisition company (SPAC) that is estimated to be listed in the second half of this year.

As a SPAC, Sona Petroleum has no operations or income-generating business at the point of its initial public offering (IPO).

The company is proposing IPO of up to 1.1 billion new ordinary shares of 1 sen each, which are sweetened by up to 1.1 billion free detachable warrants attached on the basis of one warrant to every one public issue share.

By raising the funds, the company will acquire operating companies or assets, otherwise known as qualifying assets (QA) in the exploration and production (E&P) phases within the oil and gas value chain.
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fiqir
post Jun 24 2013, 05:09 PM


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Sona Petroleum signs underwriting agreement

KUALA LUMPUR (June 24): Sona

Petroleum Bhd, set to be the third special purpose acquisition company (SPAC) to be listed on Bursa Malaysia, has signed an official underwriting agreement

for its proposed listing exercise.In a statement, Sona Petroleum said it has appointed CIMB Investment Bank and RHB Investment Bank as its joint

principal advisers, joint placement agents, joint managing underwriters and joint underwriters.

Kenanga Investment Bank and MIDF Amanah Investment Bank have also been appointed as Sona Petroleum’s jointunderwriters, the company said.

“We are honoured to have our appointed investment bankers as partners on board and we are confident that the

entire proposed listing exercise will complete smoothly with their assistance,”

said Sona Petroleum independent non-executive chairman Andreas Johannes Raymundus van Strijp.

It was reported earlier that the company intends to raise up to RM550 million for the acquisition of assets. To

do so, Sona Petroleum will offer up to 1.1 billion new shares with each coming with a free detachable warrant for its initial public offering (IPO).

“As a SPAC, Sona Petroleum has no operations or income-generating business at the point of its IPO. The Company seeks to

raise funds through its IPO for the purpose of acquiring operating companies or

assets, otherwise known as qualifying acquisition in the exploration and production phases within the oil and gas value chain,” said Sona Petroleum

The company’s proposed listing exercise is estimated to be completed in the second half of this year, the statement said.

Sona Petroleum will be the second SPAC to make its debut on Bursa Malaysia this year, and the third SPAC to be listed on the local bourse’s Main Market. CLIQ Energy Bhd, another SPAC

was officially listed on April 10 of this year. Its shares closed 5.5 sen lower from its offer price of 62.5 sen to 57 sen on its maiden trading day, while its warrants

settled five sen higher at 17.5 sen apiece.

This post has been edited by fiqir: Jun 24 2013, 05:11 PM
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kb2005
post Jun 24 2013, 06:58 PM


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Good to apply ?
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hyzam1212
post Jun 25 2013, 07:54 AM


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Prospectus next month but the listing will not be too soon...the largest SPAC to date

KUALA LUMPUR: Sona Petroleum Bhd, the latest special-purpose acquisition company (SPAC) to be approved for listing, is poised to hit a record-breaking RM550mil in initial public offering (IPO) proceeds for a SPAC, having just inked an underwriting agreement with four local banks.

Asked if the management was confident of hitting the ambitious fund-raising target, managing director Datuk Seri Hadian Hashim said: “Yes, the first two investors have given us that level of confidence. The response has been good.”

Although Hadian declined to provide specifics on the investors, sources told StarBiz that two funds were close to investing in the SPAC, namely, Hong Kong-based hedge fund Segantii Capital and a unit of the Hong Leong group.

He said that one of Sona's selling points was its management team, comprising experienced oil and gas (O&G) individuals. Hadian himself is a major shareholder in O&G upstream services provider Integrated Petroleum Services Sdn Bhd, an approved vendor to Petroliam Nasional Bhd.

Chief financial officer Datuk Maznah Abdul Jalil is a well-known corporate figure, having been a key lieutenant of the late Tan Sri Yahaya Ahmad of DRB-Hicom.

She also has 30 years of investment banking and advisory work experience, having held senior positions in Amanah Merchant Bank Bhd, Hong Leong Financial Group and Kenanga Investment Bank Bhd.

Another notable member of the management team is independent non-executive chairman Andreas Johannes Raymundus van Strijp, who has served 30 years in various Shell companies in Malaysia, the Netherlands, Norway, Brunei, Nigeria and the United Arab Emirates, mainly in Abu Dhabi and Dubai.

“I have my old colleagues from my time in Shell here with us, and a fantastic team of O&G experts from various leading O&G companies around the world; each with his own expertise and experience to offer,” van Strijp said.

Hadian pointed out that Sona would be more focused on production assets rather than exploration assets.

“Unlike the other SPACs, which are more focused on exploration assets and mineral resources, we're looking at producing assets,” he said after the underwriting ceremony.

He added that the SPAC's regions of interest were Asean, the Middle East and selected countries in Africa, where the management team had experience in.

Sona will be offering up to 1.1 billion shares at one sen apiece, with up to 1.1 billion free detachable warrants on the basis of one warrant for every share. The conversion price of the warrants is 35 sen, with a five-year conversion period.

Sona is expected to launch its prospectus on July 5, while the listing is likely to be by the year-end.

Still, Sona will be in competition with other SPACs looking to raise funds.

StarBizWeek had reported that there were as many as five SPACs in the Malaysian market now, including Sona, that were looking to raise a total RM1.18bil.

Sona intends to allocate 90% of its IPO proceeds to its qualifying acquisition and other asset acquisitions in the future. Some RM33.8mil from the proceeds would be utilised as working capital.

The management is expected to hold 20% of the enlarged capital.

Sona has appointed CIMB Investment Bank and RHB Investment Bank as its joint principal advisers, joint placement agents, joint managing underwriters and joint underwriters. Kenanga Investment Bank and MIDF Amanah Investment Bank are the joint underwriters for the proposed IPO.

Two other SPACs already listed on Bursa Malaysia are Hibiscus Petroleum Bhd, listed in July 2011, and CLIQ Energy Bhd, listed in April this year. Both are O&G exploration and production-focused SPACs.

Sona was formerly known as Titanium Windfall Sdn Bhd.

sos thestar
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hyzam1212
post Jun 25 2013, 08:05 AM


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So many exploration and production special-purpose acquisition companies is troubling

http://biz.thestar.com.my/news/story.asp?f...18&sec=business


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BabyEmpire
post Jun 25 2013, 08:35 PM


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Anyone know when SONA will be listed?

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fiqir
post Jun 25 2013, 08:38 PM


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listing end of july. next month.
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kb2005
post Jun 25 2013, 10:03 PM


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QUOTE(fiqir @ Jun 25 2013, 08:38 PM)
listing end of july. next month.
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So fast ? Huh! July is IPO month! biggrin.gif
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Zerolized
post Jun 25 2013, 10:06 PM


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QUOTE(fiqir @ Jun 25 2013, 08:38 PM)
listing end of july. next month.
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how do you know?
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fiqir
post Jun 25 2013, 10:13 PM


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from news if not mistaken. but its said end of july. still got time to get prepare.
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goldironman
post Jun 25 2013, 10:19 PM


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See below bolded.

QUOTE(hyzam1212 @ Jun 25 2013, 07:54 AM)
Prospectus next month but the listing will not be too soon...the largest SPAC to date

KUALA LUMPUR: Sona Petroleum Bhd, the latest special-purpose acquisition company (SPAC) to be approved for listing, is poised to hit a record-breaking RM550mil in initial public offering (IPO) proceeds for a SPAC, having just inked an underwriting agreement with four local banks.

Sona is expected to launch its prospectus on July 5, while the listing is likely to be by the year-end.

sos thestar
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zitis
post Jun 25 2013, 10:34 PM


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QUOTE(kb2005 @ Jun 25 2013, 10:03 PM)
So fast ? Huh! July is IPO month! biggrin.gif
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Haha.... July not only IPO month but also ur special month. tongue.gif
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fiqir
post Jun 25 2013, 10:37 PM


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just wait and see then. biggrin.gif
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kb2005
post Jun 25 2013, 11:02 PM


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QUOTE(zitis @ Jun 25 2013, 10:34 PM)
Haha.... July not only IPO month but also ur special month. tongue.gif
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Haha. True also. Selamat Berpuasa Zitis. biggrin.gif
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BabyEmpire
post Jun 25 2013, 11:58 PM


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i hope it will be end of the year, because listing SONA will affect Cliq
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fiqir
post Jun 26 2013, 11:44 AM


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QUOTE(kb2005 @ Jun 25 2013, 10:03 PM)
So fast ? Huh! July is IPO month! biggrin.gif
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yup, so many big ipo next month, including sona petroleum. rclxms.gif

This post has been edited by fiqir: Jun 26 2013, 11:45 AM
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fiqir
post Jun 26 2013, 11:48 AM


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The listing, which Hadian said could be in late July, would make Sona Petroleum the third SPAC to list on Bursa Malaysia after Hibiscus Petroleum Bhd in July 2011 and CLIQ Energy Bhd which debuted on April 10 this year.
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kb2005
post Jun 26 2013, 01:30 PM


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QUOTE(fiqir @ Jun 26 2013, 11:44 AM)
yup, so many big ipo next month, including sona petroleum.  rclxms.gif
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Need more cash. biggrin.gif
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McHoong
post Jun 26 2013, 10:22 PM


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QUOTE(fiqir @ Jun 25 2013, 08:38 PM)
listing end of july. next month.
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hey bro, u know about the launching price?
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McHoong
post Jun 26 2013, 10:23 PM


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QUOTE(kb2005 @ Jun 25 2013, 10:03 PM)
So fast ? Huh! July is IPO month! biggrin.gif
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what else coming up huh?


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minshome
post Jun 26 2013, 10:37 PM


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wat is the real mother share + warrant IPO price?

Some say mother (35 cen) + warrant (7.5 cen) = 42.5 cen, is it true?
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zitis
post Jun 27 2013, 08:47 AM


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QUOTE(McHoong @ Jun 26 2013, 10:22 PM)
hey bro, u know about the launching price?
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Around 0.85 cents.
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minshome
post Jun 27 2013, 08:52 AM


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QUOTE(zitis @ Jun 27 2013, 09:47 AM)
Around 0.85 cents.
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how much the warrant price?
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zitis
post Jun 27 2013, 08:58 AM


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QUOTE(minshome @ Jun 27 2013, 08:52 AM)
how much the warrant price?
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I think with free warrant.
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nightzstar
post Jun 27 2013, 09:14 AM


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seem like a good target hmm.gif
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zamans98
post Jun 27 2013, 11:24 AM


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so if its 0.85 with free warrants,

it will be something like this??

Mother : 0.65
Son : 0.20

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kamrulbj6107
post Jun 27 2013, 03:01 PM


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i think its like this: IPO Price = MITI price = 50 sen

Mother : 0.35 sen
Anak : 0.15 sen (detachable)
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BonDRai
post Jun 27 2013, 03:09 PM


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Seems to be a good prospect of company. Just like Cliq and Hibiscus.
Potential to get capital gain from this share I think. Especially with favorable IPO price (if its really < rm0.85/s)

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kamrulbj6107
post Jun 27 2013, 03:26 PM


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MITI allocation letter state that:
Par value = RM0.01/unit
Offer Price = RM0.50 (indikatif)

Payment before 9 July.

This post has been edited by kamrulbj6107: Jun 27 2013, 03:27 PM
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fiqir
post Jun 27 2013, 03:36 PM


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QUOTE(BonDRai @ Jun 27 2013, 03:09 PM)
Seems to be a good prospect of company. Just like Cliq and Hibiscus.
Potential to get capital gain from this share I think. Especially with favorable IPO price (if its really < rm0.85/s)
*
this sona even better management and the biggest ipo than cliq or hibiscus. i also see good potential with this company. just my opinion.

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post Jun 27 2013, 03:54 PM


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Australaysia and TerraGali listings hit snag with regulator

The two mining-related special-purpose acquisition companies (SPACs) that are looking to list on Bursa Malaysia are facing hiccups in their applications with the regulator, sources said.

Sources said these companies' applications to list are not meeting some of the criteria set by the Securities Commission (SC).


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nightzstar
post Jun 28 2013, 09:13 AM


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QUOTE(davinz18 @ Jun 27 2013, 03:54 PM)
Australaysia and TerraGali listings hit snag with regulator

The two mining-related special-purpose acquisition companies (SPACs) that are looking to list on Bursa Malaysia are facing hiccups in their applications with the regulator, sources said.

Sources said these companies' applications to list are not meeting some of the criteria set by the Securities Commission (SC).
*
this mean they are not able to proceed with IPO? hmm.gif
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hyzam1212
post Jun 28 2013, 11:16 AM


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QUOTE(nightzstar @ Jun 28 2013, 09:13 AM)
this mean they are not able to proceed with IPO? hmm.gif
*
it doesnt mean tht they cant proceed but they hit a snag; meaning to say that, they need to fulfil certain requirements beforehand and obviously may affect the listing timeline
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koinibler
post Jun 28 2013, 02:38 PM


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Sorry first,
Just wonder if Australaysia and TerraGali are related to Sona?
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hyzam1212
post Jun 28 2013, 02:47 PM


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QUOTE(koinibler @ Jun 28 2013, 02:38 PM)
Sorry first,
Just wonder if Australaysia and TerraGali are related to Sona?
*
Both are not related due to the difference in their sector, the only similarity is they are SPAC companies

This post has been edited by hyzam1212: Jun 28 2013, 02:49 PM
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zamans98
post Jul 2 2013, 12:20 PM


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Any latest news when this will be available for public IPO?
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nightzstar
post Jul 4 2013, 08:45 AM


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QUOTE(zamans98 @ Jul 2 2013, 12:20 PM)
Any latest news when this will be available for public IPO?
*
end of july
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azlan88
post Jul 5 2013, 09:39 AM


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Sona IPO launched today? It is already in the section of upcoming IPO in eIPO CIMB.
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hyzam1212
post Jul 5 2013, 09:50 AM


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Presumed after raya...application can be done first i think...

We only have the 2nd week of puasa free for the listing
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kailc
post Jul 5 2013, 09:51 AM


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SONA PETROLEUM BERHAD

Opening of application 05/07/2013
Closing of application 12/07/2013
Balloting of applications 17/07/2013
Allotment of IPO shares to successful applicants 26/07/2013
Tentative listing date 30/07/2013

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hyzam1212
post Jul 5 2013, 10:12 AM


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wow one day before Ranhill...interesting

http://www.bursamalaysia.com/market/listed...cements/1342553
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yeobobo
post Jul 5 2013, 10:39 AM


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whats the indicative price for the free detachable warrant ?

0.15 ?
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ronnie
post Jul 5 2013, 10:50 AM


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So for IPO, we pay RM0.50 for mother share free 1 warrant ?
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nilambanting
post Jul 5 2013, 11:02 AM


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PAR value is how much?

Any TP or FV for reference? Thanks
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minshome
post Jul 5 2013, 11:13 AM


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i see exercise price for warrant is 0.35, mean it worth 0.35 ?
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azlan88
post Jul 5 2013, 11:36 AM


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I haven't go through the prospectus. but from Cliq Energy experience,
the warrant may be priced at 8 cent and mother share 42 cent. Total 50 cent.

Cliq Energy mother share was priced at 62.5 cent and their warrant at 12.5 cent.

I have a great feeling that Sona Petroleum is more aggressive in term of effort to find for Qualifying Asset. Cliq Energy nampak macam takdak apa2 je.
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fiqir
post Jul 5 2013, 12:51 PM


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QUOTE(kailc @ Jul 5 2013, 09:51 AM)
SONA PETROLEUM BERHAD

Opening of application 05/07/2013
Closing of application 12/07/2013
Balloting of applications 17/07/2013
Allotment of IPO shares to successful applicants  26/07/2013
Tentative listing date 30/07/2013
*
good. thanks for info. smile.gif

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QUOTE(azlan88 @ Jul 5 2013, 11:36 AM)
I haven't go through the prospectus. but from Cliq Energy experience,
the warrant may be priced at 8 cent and mother share 42 cent. Total 50 cent.

Cliq Energy mother share was priced at 62.5 cent and their warrant at 12.5 cent.

I have a great feeling that Sona Petroleum is more aggressive in term of effort to find for Qualifying Asset. Cliq Energy nampak macam takdak apa2 je.
*
tapi cliq consider lagi agresif kan dari hibiscus? I think they are just playing the market...creating fear and buying opportunities based on the QA rumour...flushing the short term holders... all that matters now is the agm
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azlan88
post Jul 5 2013, 03:26 PM


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QUOTE(hyzam1212 @ Jul 5 2013, 01:02 PM)
tapi cliq consider lagi agresif kan dari hibiscus? I think they are just playing the market...creating fear and buying opportunities based on the QA rumour...flushing the short term holders... all that matters now is the agm
*
Ya, tak sabar nak tggu AGM. Banyak soalan pasal hala tuju syarikat dan gaji pengarah.
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davinz18
post Jul 5 2013, 03:30 PM


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Sona Petroleum IPO receives 35% takeup from cornerstone investors

Sona Petroleum Bhd has received 35% take-up from cornerstone investors for shares in its IPO.

Sona's managing director, Datul Sri Hadian Hashim said after the launch of its prospectus today that its cornerstone investors have taken up 275 million shares in total.

Hong Leong Asset Management, CIMB and Kenanga are amongst the cornerstone investors. It is also understood that some of the demand had come from overseas individuals such as in Singapore and Hong Kong.

Aside from high net-worth individuals, several institutional investors are understood to have expressed interest for shares in Sona Petroleum, even though fund managers do not typically put money into SPACs due to their high-risk nature.
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goldironman
post Jul 5 2013, 03:52 PM


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Reminder:
Sona Petroleum closing of application: 12 July 2013.
Ranhill Power & Ranhill Utilities closing of application: 11 July 2013.


How do you strategize and divide up your bullets? Which one could reap more juice on listing day (short term)? Which one is to hold for long term for around at least 1-2 years period? They both seem promising. To make my life simpler, I probably split the cash 50-50 lol. tongue.gif
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shinokws
post Jul 5 2013, 03:52 PM


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For SPACs IPO on mining sector only 2 company to considers=Terragali & Australaysia Resources.but seem they facing some snag from SC.

Wonder any more new mining company come out to snatch btw Terragali & Australaysia Resources.

If so,it will be a good overview for us study before invest on it. thumbup.gif
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nilambanting
post Jul 5 2013, 04:13 PM


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QUOTE(goldironman @ Jul 5 2013, 03:52 PM)
Reminder:
Sona Petroleum closing of application: 12 July 2013.
Ranhill Power & Ranhill Utilities closing of application: 11 July 2013.


How do you strategize and divide up your bullets? Which one could reap more juice on listing day (short term)? Which one is to hold for long term for around at least 1-2 years period? They both seem promising. To make my life simpler, I probably split the cash 50-50 lol.  tongue.gif
*
Sounds like u have 100% great confidence to get all the lots u want from ballot. U got Pink form? If no, of course spread the bullets. Everyone knows Raymond
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goldironman
post Jul 5 2013, 04:26 PM


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QUOTE(nilambanting @ Jul 5 2013, 04:13 PM)
Sounds like u have 100% great confidence to get all the lots u want from ballot. U got Pink form? If no, of course spread the bullets. Everyone knows Raymond
*
No pink form. I got lucky and scored 6 out of 8 IPOs (75% successful) including giants like PCHEM, IHH and FGV and I hope to score again biggrin.gif . No worries if unlucky as life goes on as usual. smile.gif
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kb2005
post Jul 5 2013, 04:39 PM


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So many IPOs. Need to print money already. biggrin.gif
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davinz18
post Jul 5 2013, 04:43 PM


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Sona Petroleum closing of application: 12 July 2013.
Ranhill Power & Ranhill Utilities closing of application: 11 July 2013.

Think People Print money kah! doh.gif
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nilambanting
post Jul 5 2013, 04:51 PM


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QUOTE(goldironman @ Jul 5 2013, 04:26 PM)
No pink form. I got lucky and scored 6 out of 8 IPOs (75% successful) including giants like PCHEM, IHH and FGV and I hope to score again biggrin.gif . No worries if unlucky as life goes on as usual.  smile.gif
*
Thanks for sharing, u r indeed lucky. No worry, can try at second board also.
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kb2005
post Jul 5 2013, 05:06 PM


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QUOTE(davinz18 @ Jul 5 2013, 04:43 PM)
Sona Petroleum closing of application: 12 July 2013.
Ranhill Power & Ranhill Utilities closing of application: 11 July 2013.

Think People Print money kah! doh.gif
*
Print also not enough time. tongue.gif
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fiqir
post Jul 5 2013, 06:05 PM


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just try my luck here.
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ah_fui
post Jul 5 2013, 07:54 PM


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when they will return the $$ if ballot failed ???
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xuexueli
post Jul 5 2013, 08:30 PM


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QUOTE(ah_fui @ Jul 5 2013, 07:54 PM)
when they will return the $$ if ballot failed ???
*
Usually before the listing date lor tongue.gif
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ronnie
post Jul 5 2013, 08:38 PM


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QUOTE(ah_fui @ Jul 5 2013, 07:54 PM)
when they will return the $$ if ballot failed ???
*
1-2 days after ballot date.
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nilambanting
post Jul 5 2013, 08:57 PM


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My remisier said better pump in more fund to get better allocation, very LIMITED stocks
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kb2005
post Jul 5 2013, 09:42 PM


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QUOTE(nilambanting @ Jul 5 2013, 08:57 PM)
My remisier said better pump in more fund to get better allocation, very LIMITED stocks
*
How about the listing performance ? Any news from your remisier ?
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nilambanting
post Jul 5 2013, 09:54 PM


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QUOTE(kb2005 @ Jul 5 2013, 09:42 PM)
How about the listing performance ? Any news from your remisier ?
*
Im still waiting their prospectus reports
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hyzam1212
post Jul 6 2013, 11:11 AM


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QUOTE(nilambanting @ Jul 5 2013, 08:57 PM)
My remisier said better pump in more fund to get better allocation, very LIMITED stocks
*
Your remiser must be the underwriter rite/?

Some good news to challenge cliq...

KUALA LUMPUR: Sona Petroleum Bhd is looking to buy controlling stakes in oil and gas production companies, said its managing director Datuk Seri Hadian Hashim.

"After listing, we have three years to look for suitable assets and we're looking at production companies. Although they are more expensive, the firms are relatively faster in generating income, more likely in a year," he said after Sona's prospectus launch, here, yesterday.

"We're looking at having at least a joint control over the operations or financial decisions of the assets," Hadian added.

As a special purpose acquisition company (SPAC), he said, Sona does not have any operations or income-generating business at its initial public offering (IPO).

Sona is the third SPAC to be listed on Bursa Malaysia after Hibiscus Petroleum Bhd and Cliq Energy Bhd. All three are in the oil and gas sector.

Sona plans to raise up to RM550 million from its IPO, of which 90 per cent will go to asset purchases. The rest will be set aside for working capital.

The company's six cornerstone investors are Hong Leong Asset Management, Hong Kong-based hedge fund Segantii Capital, and investment firm Davidson Kempner, and three banks backing the listing, namely RHB Investment Bank, CIMB Investment Bank and Kenanga Investment Bank.

Major bankers CIMB and RHB are the joint principal advisers, joint placement agents and joint managing underwriters. CIMB and RHB also act as the joint underwriters, together with Kenanga Investment Bank and MIDF Amanah Investment Bank, for the retail offering.

Sona's prospectus stated its key management is barred from selling any of its shares until the company generates a year of audited revenue from the commercial production of its qualifying asset.

This requirement is meant to protect minority shareholders' interests. After the listing, Sona's management team will hold 20 per cent of the enlarged share base.

Hadian said Sona is the first SPAC to have an institutional portion under the Ministry of International Trade and Industry for its listing.

This IPO is slated for July 30 and book-building for the retail shares opened at 10am yesterday and closes on July 12. The institutional offering also opened yesterday and closes on July 17.

The 1.1 billion share sale consists of 959 million shares for institutional investors and 141 million for retail investors at 50 apiece. Each share comes with a free warrant.

Read more: Sona Petroleum targets asset buys http://www.btimes.com.my/Current_News/BTIM.../#ixzz2YEOhbGcN
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fiqir
post Jul 6 2013, 12:22 PM


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those that still thinking sona will listing end of year, all the best. just wait and see la. biggrin.gif

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supersapek
post Jul 6 2013, 01:01 PM


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QUOTE(fiqir @ Jul 6 2013, 12:22 PM)
those that still thinking sona will listing end of year, all the best. just wait and see la.  biggrin.gif
*
are u invest on it???
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yamatotrading
post Jul 6 2013, 01:18 PM


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100,000 shares. here i come

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nasT
post Jul 6 2013, 01:59 PM


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QUOTE(yamatotrading @ Jul 6 2013, 01:18 PM)
100,000 shares. here i come
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Yamatosan... I think u can do better than that. I mean punt better than that.... smile.gif
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ah_fui
post Jul 7 2013, 12:43 PM


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any1 knows what is the price for mother and son ?
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post Jul 7 2013, 03:04 PM


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QUOTE(ah_fui @ Jul 7 2013, 12:43 PM)
any1 knows what is the price for mother and son ?
*
"141 million shares for retail investors at 50 sen apiece. Each share comes with a free warrant."

“Exercise Price - RM0.35 per Warrant."

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zamans98
post Jul 7 2013, 06:49 PM


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QUOTE(fiqir @ Jul 6 2013, 12:22 PM)
those that still thinking sona will listing end of year, all the best. just wait and see la.  biggrin.gif
*
kenot brain this. what do you mean?
Isn't that a confirm thingy (July 30) or you are mislead?
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fiqir
post Jul 7 2013, 11:00 PM


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QUOTE(zamans98 @ Jul 7 2013, 06:49 PM)
kenot brain this. what do you mean?
Isn't that a confirm thingy (July 30) or you are mislead?
*
no need to brain boss. every said earlier. end of july. see mine previous post

anyway, u apply or not this sona ? biggrin.gif

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zamans98
post Jul 7 2013, 11:01 PM


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QUOTE(fiqir @ Jul 7 2013, 11:00 PM)
no need to brain boss. every said earlier. end of july.  see mine previous post.  biggrin.gif
*
huh, okay. now brain it out edi.
so how many lots are u planning to apply for Sauna eh Sona?
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fiqir
post Jul 7 2013, 11:05 PM


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QUOTE(zamans98 @ Jul 7 2013, 11:01 PM)
huh, okay. now brain it out edi.
so how many lots are u planning to apply for Sauna eh Sona?
*
just a little bit only. dont know can get or not. sweat.gif
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zamans98
post Jul 7 2013, 11:17 PM


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QUOTE(fiqir @ Jul 7 2013, 11:05 PM)
just a little bit only. dont know can get or not.  sweat.gif
*
spread between few accounts?
Didn't know that MITI have the it... doh.gif
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fiqir
post Jul 7 2013, 11:21 PM


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QUOTE(zamans98 @ Jul 7 2013, 11:17 PM)
spread between few accounts?
Didn't know that MITI have the it...  doh.gif
*
few accounts ? me only one account. try apply some. just hope can get a little bit if not all. rclxms.gif
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zamans98
post Jul 7 2013, 11:47 PM


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QUOTE(fiqir @ Jul 7 2013, 11:21 PM)
few accounts ? me only one account. try apply some. just hope can get a little bit if not all.  rclxms.gif
*
alright, I'm calling for a pool fund to apply 500,000 shares.
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fuzzy
post Jul 8 2013, 12:37 AM


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I'm applying biggrin.gif
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azlan88
post Jul 8 2013, 10:52 AM


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QUOTE(zamans98 @ Jul 7 2013, 11:47 PM)
alright, I'm calling for a pool fund to apply 500,000 shares.
*
IMHO, It is not wise to apply in one account. For example if you apply 500k shares FGV, you will be allocated only 70k. Let say you apply with 5 accounts with 100k shares each, you might get 350k shares. How to distribute into few accounts, I believe you can figure it out by yourself. biggrin.gif

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sl3ge
post Jul 8 2013, 11:12 AM


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QUOTE(goldironman @ Jul 5 2013, 04:26 PM)
No pink form. I got lucky and scored 6 out of 8 IPOs (75% successful) including giants like PCHEM, IHH and FGV and I hope to score again biggrin.gif . No worries if unlucky as life goes on as usual.  smile.gif
*
wow fantastic..are you using maybank2u to apply?
and what investment bank you are using?
smile.gif
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goldironman
post Jul 8 2013, 11:16 AM


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QUOTE(sl3ge @ Jul 8 2013, 11:12 AM)
wow fantastic..are you using maybank2u to apply?
and what investment bank you are using?
smile.gif
*
maybank2u to apply and OSK (RHB) investment bank. flex.gif
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yamatotrading
post Jul 8 2013, 11:23 AM


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QUOTE(azlan88 @ Jul 8 2013, 10:52 AM)
IMHO, It is not wise to apply in one account. For example if you apply 500k shares FGV, you will be allocated only 70k. Let say you apply with 5 accounts with 100k shares each, you might get 350k shares. How to distribute into few accounts, I believe you can figure it out by yourself.  biggrin.gif
*
duplicating of application via few investment bank, single name will cause rejection.
Unless you use 5 proxies name.
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azlan88
post Jul 8 2013, 11:27 AM


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QUOTE(yamatotrading @ Jul 8 2013, 11:23 AM)
duplicating of application via few investment bank, single name will cause rejection.
Unless you use 5 proxies name.
*
yes, I mean proxies. biggrin.gif
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yamatotrading
post Jul 8 2013, 12:14 PM


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QUOTE(azlan88 @ Jul 8 2013, 11:27 AM)
yes, I mean proxies.  biggrin.gif
*
notworthy.gif pro players !!!
Personally view that we might not get 100% allocation just like Hibiscus and CLIQ.
Good also, high chance of upside on day 1.
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kb2005
post Jul 8 2013, 01:09 PM


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QUOTE(yamatotrading @ Jul 8 2013, 11:23 AM)
duplicating of application via few investment bank, single name will cause rejection.
Unless you use 5 proxies name.
*
I also think that it will get rejected. But recently i found out, my friend using 2 investment bank and both alloted. So, what went wrong ?
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yamatotrading
post Jul 8 2013, 01:39 PM


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QUOTE(kb2005 @ Jul 8 2013, 01:09 PM)
I also think that it will get rejected. But recently i found out, my friend using 2 investment bank and both alloted. So, what went wrong ?
*
Personally what i did was 1 Private Placement, 1 Public Balloting, both kena....
(maybe bank nominee account)

referring to MIH, it is an offence for multiple application http://www.mih.com.my/index.php?page=do

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nightzstar
post Jul 8 2013, 02:09 PM


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QUOTE(zamans98 @ Jul 7 2013, 11:47 PM)
alright, I'm calling for a pool fund to apply 500,000 shares.
*
shocking.gif shocking.gif big shark.
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nilambanting
post Jul 8 2013, 02:12 PM


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QUOTE(nightzstar @ Jul 8 2013, 02:09 PM)
shocking.gif  shocking.gif big shark.
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u new with nominee cds acc?
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nightzstar
post Jul 8 2013, 02:13 PM


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QUOTE(nilambanting @ Jul 8 2013, 02:12 PM)
u new with nominee cds acc?
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yeah, waiting to buy this ipo blush.gif
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kb2005
post Jul 8 2013, 02:46 PM


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Looks like this counter is like hot cake. I will in for sure. biggrin.gif
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zamans98
post Jul 8 2013, 03:53 PM


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QUOTE(azlan88 @ Jul 8 2013, 10:52 AM)
IMHO, It is not wise to apply in one account. For example if you apply 500k shares FGV, you will be allocated only 70k. Let say you apply with 5 accounts with 100k shares each, you might get 350k shares. How to distribute into few accounts, I believe you can figure it out by yourself.  biggrin.gif
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no Sir, if you ever follow any of my discussion, it is not the way to do it.
a pool money means I have good liquidity. I will apply on multiple accounts and owners.


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THTgadgets.com
post Jul 8 2013, 04:43 PM


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Bought 1000 shares in this SPAC... That's something new for me (having played with REITs and the "usual" listed company types) and at 50 cents per share, why not give it a shot? smile.gif

Now let's see whether I'm lucky or not, since my purchase of AAX shares was successful... rclxms.gif

This post has been edited by THTgadgets.com: Jul 8 2013, 04:43 PM
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nilambanting
post Jul 8 2013, 05:04 PM


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QUOTE(THTgadgets.com @ Jul 8 2013, 04:43 PM)
Bought 1000 shares in this SPAC... That's something new for me (having played with REITs and the "usual" listed company types) and at 50 cents per share, why not give it a shot? smile.gif

Now let's see whether I'm lucky or not, since my purchase of AAX shares was successful... rclxms.gif
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1000 units = rm500, if 100% strikes, got meat?
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kailc
post Jul 8 2013, 05:18 PM


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QUOTE(nilambanting @ Jul 8 2013, 03:04 AM)
1000 units = rm500, if 100% strikes, got meat?
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sikit tulang
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ah_fui
post Jul 8 2013, 05:18 PM


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c = cents

50c + 35c = 85c

85c / 2 = 42.5c

50c - 42.5c = 7.5c

can i say the sona-wa is 7.5c on listing day ?

thank you
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jbear
post Jul 8 2013, 05:41 PM


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Hi all,

May i ask my CDs account has been registered from OSK investment at 5yrs ago and my this CDs account still can be used, right?
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vNirvana
post Jul 8 2013, 05:51 PM


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QUOTE(jbear @ Jul 8 2013, 05:41 PM)
Hi all,

May i ask my CDs account has been registered from OSK investment at 5yrs ago and my this CDs account still can be used, right?
*
Yup, just need to call back your remisier and reactivate it. I just done my last mine after stop trading for 3 years.


For all the sifu here, anyone know when is the listing date for this ipo? Im still thinking want to enter or not. Not enough fund =( small pocket
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davinz18
post Jul 8 2013, 06:01 PM


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SONA PETROLEUM BERHAD

Opening of application 05/07/2013
Closing of application 12/07/2013
Balloting of applications 17/07/2013
Allotment of IPO shares to successful applicants 26/07/2013
Tentative listing date 30/07/2013

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fuzzy
post Jul 8 2013, 06:06 PM


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Wah, I need to wait to see if my ABM is successful or not sad.gif
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cadmus
post Jul 8 2013, 06:24 PM


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i was checking out CLIQ energy IPO. it seems every one was allocated for the public holdings? so.. just curious whether it would that be the same for Sona? brows.gif

http://www.mih.com.my/home.php?page=bs539p
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zamans98
post Jul 8 2013, 11:01 PM


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QUOTE(cadmus @ Jul 8 2013, 06:24 PM)
i was checking out CLIQ energy IPO. it seems every one was allocated for the public holdings? so.. just curious whether it would that be the same for Sona? brows.gif

http://www.mih.com.my/home.php?page=bs539p
*
since 2 big fund manager are looking into this, means it will generate more interest for retail.
its will be SOLD OUT. whistling.gif
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zamans98
post Jul 8 2013, 11:04 PM


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QUOTE(ah_fui @ Jul 8 2013, 05:18 PM)
c = cents

50c + 35c = 85c

85c / 2 = 42.5c

50c - 42.5c = 7.5c

can i say the sona-wa is 7.5c on listing day ?

thank you
*
not sure if that is the right way to calculate, taking the case of Hibiscus and Cliq :

SONA IPO price 50c
SONA - 35c
SONA-WA - 15c

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hyzam1212
post Jul 9 2013, 08:12 AM


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KUALA LUMPUR: In our report “Sona Petroleum targets asset buys”, it was wrongly stated that RHB Investment Bank, CIMB Investment Bank and Kenanga Investment Bank were cornerstone investors of Sona.

In fact, among cornerstone investors of Sona are the fund management arms of the banks backing the listing, namely RHB Investment Management Sdn Bhd, CIMB-Principal Asset Management Bhd and Kenanga Investors Bhd. The error is regretted.

Read more: Sona Petroleum’s cornerstone investors http://www.btimes.com.my/Current_News/BTIM.../#ixzz2YVDbO1I1
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nightzstar
post Jul 9 2013, 08:23 AM


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tried my luck with 1000 units.
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fiqir
post Jul 9 2013, 09:19 AM


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sona petroleum website - http://sonapetroleum.com/

Sona Petroleum Berhad (“Sona Petroleum”) was formed by a group of experienced senior executives who are active in the oil and gas industry, in particular, Exploration and Production (“E&P”)

This post has been edited by fiqir: Jul 9 2013, 09:20 AM
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nilambanting
post Jul 9 2013, 12:11 PM


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Any TP or FV to share?
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kb2005
post Jul 9 2013, 01:09 PM


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Anyone started to apply or wait until Fri?
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minshome
post Jul 9 2013, 01:15 PM


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i oredi in..
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yamatotrading
post Jul 9 2013, 01:52 PM


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QUOTE(kb2005 @ Jul 9 2013, 01:09 PM)
Anyone started to apply or wait until Fri?
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i wait till friday...
everyday i save RM9.00 of interest
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minshome
post Jul 9 2013, 02:04 PM


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QUOTE(yamatotrading @ Jul 9 2013, 02:52 PM)
i wait till friday...
everyday i save RM9.00 of interest
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interest generated from ur trading account?
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yamatotrading
post Jul 9 2013, 02:17 PM


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QUOTE(minshome @ Jul 9 2013, 02:04 PM)
interest generated from ur trading account?
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interest save from my flexi loan account bro.

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Danny
post Jul 9 2013, 03:23 PM


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i will going in there i think..
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ronnie
post Jul 9 2013, 04:45 PM


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It's best to apply on the last day for all IPOs.... no interest given when funds are send to Issuing House.
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zamans98
post Jul 9 2013, 08:52 PM


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QUOTE(ronnie @ Jul 9 2013, 04:45 PM)
It's best to apply on the last day for all IPOs.... no interest given when funds are send to Issuing House.
*
not sure if that is right. fund sits in bank account, only be forwarded to central issuing house once ballot is successful.
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kb2005
post Jul 9 2013, 09:38 PM


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QUOTE(zamans98 @ Jul 9 2013, 08:52 PM)
not sure if that is right. fund sits in bank account, only be forwarded to central issuing house once ballot is successful.
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I don't know how it work. I guess it will be deducted from your saving account and put in investment bank account. Once successful, it will be forwarded to issuing house else it will be refunded to you.
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ronnie
post Jul 9 2013, 10:11 PM


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QUOTE(kb2005 @ Jul 9 2013, 09:38 PM)
I don't know how it work. I guess it will be deducted from your saving account and put in investment bank account. Once successful, it will be forwarded to issuing house else it will be refunded to you.
*
Once it gets deducted from your CASA, you don't earn anymore daily-calculated interest.
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Xforged
post Jul 10 2013, 02:39 PM


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Entered. Hopefully kena.
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hovercraft97
post Jul 10 2013, 02:50 PM


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guys.. is this syariah compliance?
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davinz18
post Jul 10 2013, 03:04 PM


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QUOTE(hovercraft97 @ Jul 10 2013, 02:50 PM)
guys.. is this syariah compliance?
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Yup. it's Shariah-compliant securities approved by SC's SAC
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kb2005
post Jul 10 2013, 03:33 PM


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Applied. Small quantity! biggrin.gif
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xuexueli
post Jul 10 2013, 03:43 PM


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QUOTE(kb2005 @ Jul 10 2013, 03:33 PM)
Applied. Small quantity! biggrin.gif
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me too, thinking of applying some (small quantity).. smile.gif

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kailc
post Jul 10 2013, 03:47 PM


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For those applied Hibiscus and Cliq, they manage to allocated the shares 100% of what they applied. I doubt if the same scenario happen on Sona since this stock is so hot and everyone talking abt it.
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nightzstar
post Jul 10 2013, 05:06 PM


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QUOTE(kb2005 @ Jul 10 2013, 03:33 PM)
Applied. Small quantity! biggrin.gif
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how "small"? brows.gif
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Neo18
post Jul 10 2013, 05:07 PM


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applied 150000 unit @ RM0.50 = RM75000 for SONA petroleum
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kb2005
post Jul 10 2013, 05:11 PM


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QUOTE(nightzstar @ Jul 10 2013, 05:06 PM)
how "small"? brows.gif
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Small only! Still can not beat Neo18. biggrin.gif
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nightzstar
post Jul 10 2013, 05:12 PM


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QUOTE(kb2005 @ Jul 10 2013, 05:11 PM)
Small only! Still can not beat Neo18. biggrin.gif
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yeah neo18 ganas oooh, eh cant topup anymore if i oledi submit sona ipo? hmm.gif
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kb2005
post Jul 10 2013, 05:20 PM


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QUOTE(nightzstar @ Jul 10 2013, 05:12 PM)
yeah neo18 ganas oooh, eh cant topup anymore if i oledi submit sona ipo? hmm.gif
*
How many you applied ?
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nightzstar
post Jul 10 2013, 05:22 PM


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QUOTE(kb2005 @ Jul 10 2013, 05:20 PM)
How many you applied ?
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2000 unit
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yarusaru
post Jul 10 2013, 05:22 PM


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How to apply.. can anyone enlighten me with the link.. tq in advance
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kb2005
post Jul 10 2013, 05:31 PM


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QUOTE(nightzstar @ Jul 10 2013, 05:22 PM)
2000 unit
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I see. You should try with bigger volume. 2k shares if alloted only get 1k shares. Sell also losing brokerage fee. biggrin.gif
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ronnie
post Jul 10 2013, 05:36 PM


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Can we apply using a different amount ?
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lee90
post Jul 10 2013, 05:36 PM


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im in ~ rclxm9.gif
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vNirvana
post Jul 10 2013, 05:37 PM


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just applied a small quantity of this ipo. today market is so slow.... Hope the KLCI will raise tmr. doh.gif
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tineagle
post Jul 10 2013, 05:48 PM


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QUOTE(kb2005 @ Jul 10 2013, 05:31 PM)
I see. You should try with bigger volume. 2k shares if alloted only get 1k shares. Sell also losing brokerage fee. biggrin.gif
*
not really, cheap share like this price movement changes a large % of value
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ryei
post Jul 10 2013, 07:30 PM


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applied 110k shares.. hope can get some!
this is the biggest ipo i've applied for so far.. lol
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crystalpoyo
post Jul 10 2013, 08:34 PM


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Applied 10k unit only, hopefully Kena also.

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davinz18
post Jul 10 2013, 08:36 PM


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SONA PETROLEUM BERHAD

Opening of application 05/07/2013
Closing of application 12/07/2013
Balloting of applications 17/07/2013
Allotment of IPO shares to successful applicants 26/07/2013
Tentative listing date 30/07/2013
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nightzstar
post Jul 10 2013, 09:44 PM


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QUOTE(kb2005 @ Jul 10 2013, 05:31 PM)
I see. You should try with bigger volume. 2k shares if alloted only get 1k shares. Sell also losing brokerage fee. biggrin.gif
*
That why thinking to top up more but too bad can't top anymore, only allow one time application
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zamans98
post Jul 10 2013, 10:58 PM


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QUOTE(yarusaru @ Jul 10 2013, 05:22 PM)
How to apply.. can anyone enlighten me with the link.. tq in advance
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ensure u have CDS first.

but too little too late, u got 2 days left.

then apply through online banking
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yarusaru
post Jul 11 2013, 12:42 AM


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QUOTE(zamans98 @ Jul 10 2013, 10:58 PM)
ensure u have CDS first.

but too little too late, u got 2 days left.

then apply through online banking
*
i do have cds account
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vNirvana
post Jul 11 2013, 12:46 AM


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QUOTE(yarusaru @ Jul 11 2013, 12:42 AM)
i do have cds account
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then you just have to apply it thru your online banking account. It is simple and easy. Im using Maybank to apply. It is under investment > eShare. You will see the ipo Application over there.
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yarusaru
post Jul 11 2013, 01:14 AM


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QUOTE(vNirvana @ Jul 11 2013, 12:46 AM)
then you just have to apply it thru your online banking account. It is simple and easy. Im using Maybank to apply. It is under investment > eShare. You  will see the ipo Application over there.
*
hehe okay thanks mate! biggrin.gif
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FirezZ
post Jul 11 2013, 01:21 AM


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Will try to apply some of this ipo as well but looking at the ranhill's ipo which is going to due tomorrow, should i split it or concentrate fully on sona by the way ? Any advise sifuu.....
Most likely only throwing 3.5K to see the outcome.. with Ranhill, i might not be getting "quantity" volume but perhaps with Sona, it is still acceptable smile.gif

If lucky, upon getting this ipo at 0.50 ... will it come with the free WA too ? or it will be a different thing ?
thanks for the highlight
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GloryKnight
post Jul 11 2013, 02:25 AM


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QUOTE(FirezZ @ Jul 11 2013, 01:21 AM)
Will try to apply some of this ipo as well but looking at the ranhill's ipo which is going to due tomorrow, should i split it or concentrate fully on sona by the way ? Any advise sifuu.....
Most likely only throwing 3.5K to see the outcome.. with Ranhill, i might not be getting "quantity" volume but perhaps with Sona, it is still acceptable smile.gif

If lucky, upon getting this ipo at 0.50 ... will it come with the free WA too ? or it will be a different thing ?
thanks for the highlight
*
Yes, it will come with free WA on its listing day and you are free to sell the X amount you get for both Main Sona share and it's Warrants.

The market sentiment is weak currently, I believe. Just apply according to what you dare to afford and what you can afford.
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vNirvana
post Jul 11 2013, 03:24 AM


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QUOTE(yarusaru @ Jul 11 2013, 01:14 AM)
hehe okay thanks mate! biggrin.gif
*
no problem rclxms.gif rclxms.gif
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nilambanting
post Jul 11 2013, 08:45 AM


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Still no FV or TP?
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nilambanting
post Jul 11 2013, 08:49 AM


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QUOTE(nightzstar @ Jul 10 2013, 05:22 PM)
2000 unit
*
up more for break even, i had tested with small units in ABM, 100% failed. KLSE not interested to entertain small fish
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nightzstar
post Jul 11 2013, 09:01 AM


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QUOTE(nilambanting @ Jul 11 2013, 08:49 AM)
up more for break even, i had tested with small units in ABM, 100% failed. KLSE not interested to entertain small fish
*
yeah, i wanted but too bad that cimb eipo wont allow me to top up, ahh now can pray hard. cry.gif
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fiqir
post Jul 11 2013, 09:11 AM


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i thought we can apply one time only per ipo.
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xuexueli
post Jul 11 2013, 09:29 AM


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buy ipo can top-up meh??? rclxub.gif

u cant top-up,....
u submit the application and that's it... think carefully before submitting it... icon_rolleyes.gif
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kamrulbj6107
post Jul 11 2013, 10:02 AM


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i think u can't top-up .... what u can try is ..... go to the bank, see the officers, and try ask to " reverse" the transaction (before closing date/time of the IPO) and your money will be refunded immediately..... i did that once before this (because wrongly selecting/key in) my CDS no. thro M2U ....
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hovercraft97
post Jul 11 2013, 10:02 AM


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QUOTE(davinz18 @ Jul 10 2013, 03:04 PM)
Yup. it's Shariah-compliant securities approved by SC's SAC
*
thanks man!...

applying now!!..
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fiqir
post Jul 11 2013, 10:04 AM


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Closing of application 12/07/2013
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kamrulbj6107
post Jul 11 2013, 10:04 AM


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then reapply again with new amount ....
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ronnie
post Jul 11 2013, 10:08 AM


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QUOTE(kamrulbj6107 @ Jul 11 2013, 10:02 AM)
i think u can't top-up .... what u can try is ..... go to the bank, see the officers, and try ask to " reverse" the transaction (before closing date/time of the IPO) and your money will be refunded immediately..... i did that once before this (because wrongly selecting/key in) my CDS no. thro M2U ....
*
Any Maybank branch ?
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kamrulbj6107
post Jul 11 2013, 10:10 AM


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any of your nearest Maybank Branch ...... hurry up... want to kaya or not ....
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nilambanting
post Jul 11 2013, 02:16 PM


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aiyo, call ur remisier, then join their nominee cds account
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FirezZ
post Jul 11 2013, 05:51 PM


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QUOTE(GloryKnight @ Jul 11 2013, 02:25 AM)
Yes, it will come with free WA on its listing day and you are free to sell the X amount you get for both Main Sona share and it's Warrants.

The market sentiment is weak currently, I believe. Just apply according to what you dare to afford and what you can afford.
*
yupe i understand... There is risk in share-market still.... but wondering what normally you guys player will do if there are 2 ipo coming at the same time.... just concentrate solely on 1 ipo or spread and invest on both of them tongue.gif
Since my budget is not much... i guess will have only concentrate on 1 application at this time biggrin.gif
tankiu tankiu ..

Ranhill closed already so ... lets see if there is any luck for sona tmr onwards... Not necessary we will be able to buy still right ? hheee

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kb2005
post Jul 11 2013, 06:20 PM


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QUOTE(FirezZ @ Jul 11 2013, 05:51 PM)
yupe i understand... There is risk in share-market still.... but wondering what normally you guys player will do if there are 2 ipo coming at the same time.... just concentrate solely on 1 ipo or spread and invest on both of them tongue.gif
Since my budget is not much... i guess will have only concentrate on 1 application at this time biggrin.gif
tankiu tankiu ..

Ranhill closed already so ... lets see if there is any luck for sona tmr onwards... Not necessary we will be able to buy still right ? hheee
*
Not necessary you will get it. Just apply both bro to get better chance.
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sharonlim09
post Jul 11 2013, 06:24 PM


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1 question, let say i have 2 CDS account, can i apply the IPO using 2 different CDS? Will they look at unique NRIC or CDS?
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DeVGF
post Jul 11 2013, 06:25 PM


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Just applied for 2000 units via M2U. I hope everything goes smoothly. Testing my luck here. :]
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davinz18
post Jul 11 2013, 06:29 PM


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QUOTE(sharonlim09 @ Jul 11 2013, 06:24 PM)
1 question, let say i have 2 CDS account, can i apply the IPO using 2 different CDS? Will they look at unique NRIC or CDS?
*
Can only apply using 1 CDS Acc (retail). They see your NRIC

2nd application will be rejected

This post has been edited by davinz18: Jul 11 2013, 06:30 PM
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FirezZ
post Jul 12 2013, 06:40 AM


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just applied for this ipo via M2u ...
deduction directly from my SA hmmm.. btw.. i thought all trading on share must be done only at the Premier 1 Account only ?
Anyway, the status shows successful and money deducted from my SA already.. now hoping it will be approved tongue.gif

By the way, if it is failed to obtain the ipo, money will be refunded to my SA account after 17th July right ? Or how do i trace this status of the purchase ?

thankiu

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ronnie
post Jul 12 2013, 07:58 AM


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QUOTE(FirezZ @ Jul 12 2013, 06:40 AM)
just applied for this ipo via M2u ...
deduction directly from my SA  hmmm.. btw.. i thought all trading on share must be done only at the Premier 1 Account  only ?
Anyway, the status shows successful and money deducted from my SA already.. now hoping it will be approved tongue.gif

By the way, if it is failed to obtain the ipo, money will be refunded to my SA account after 17th July right ? Or how do i trace this status of the purchase ?

thankiu
*
Refund in 1-2 days after Ballot Date for Maybank.
If you received the full amount (aka Auto Reversed), then you failed to get the IPO allocation.
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kb2005
post Jul 12 2013, 07:59 AM


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Today last day for application. Hurry! biggrin.gif
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rosdi1
post Jul 12 2013, 08:43 AM


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QUOTE(davinz18 @ Jul 11 2013, 06:29 PM)
Can only apply using 1 CDS Acc (retail). They see your NRIC

2nd application will be rejected
*
Both will be rejected

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kailc
post Jul 12 2013, 08:45 AM


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Applied 50k units, let's see my luck after failed in ABM.
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ronnie
post Jul 12 2013, 09:07 AM


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QUOTE(kailc @ Jul 12 2013, 08:45 AM)
Applied 50k units, let's see my luck after failed in ABM.
*
rclxms.gif rclxms.gif rclxms.gif Banyak confident this will do well ?
Will we be 3rd time lucky (3rd SPAC on Bursa Malaysia) ?

This post has been edited by ronnie: Jul 12 2013, 09:07 AM
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hovercraft97
post Jul 12 2013, 09:33 AM


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QUOTE(kailc @ Jul 12 2013, 08:45 AM)
Applied 50k units, let's see my luck after failed in ABM.
*
rclxms.gif .
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FirezZ
post Jul 12 2013, 09:35 AM


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QUOTE(kailc @ Jul 12 2013, 08:45 AM)
Applied 50k units, let's see my luck after failed in ABM.
*
Wow.... im just small potato... 7k unit only x.x
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fiqir
post Jul 12 2013, 09:36 AM


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Sona Petroleum | Oil & Gas Expert rclxms.gif

sona petroleum website

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kailc
post Jul 12 2013, 09:44 AM


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QUOTE(ronnie @ Jul 11 2013, 07:07 PM)
rclxms.gif  rclxms.gif  rclxms.gif Banyak confident this will do well ?
Will we be 3rd time lucky (3rd SPAC on Bursa Malaysia) ?
*
high risk high gain
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ronnie
post Jul 12 2013, 09:52 AM


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Another attempt on IPO !!!! Please let me get this SONA
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meistsh_musical
post Jul 12 2013, 09:58 AM


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QUOTE(ronnie @ Jul 12 2013, 10:52 AM)
Another attempt on IPO !!!! Please let me get this SONA
*
is this good?

and so it will listing on bursa on monday?
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hyzam1212
post Jul 12 2013, 10:04 AM


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QUOTE(davinz18 @ Jul 10 2013, 08:36 PM)
SONA PETROLEUM BERHAD

Opening of application 05/07/2013
Closing of application 12/07/2013
Balloting of applications 17/07/2013
Allotment of IPO shares to successful applicants 26/07/2013
Tentative listing date 30/07/2013
*
QUOTE(meistsh_musical @ Jul 12 2013, 09:58 AM)
is this good?

and so it will listing on bursa on monday?