waiting for the prospectus
IPO: Sona Petroleum Berhad, SPAC IPO
IPO: Sona Petroleum Berhad, SPAC IPO
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Jun 15 2013, 07:22 PM
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#1
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Senior Member
2,850 posts Joined: Oct 2005 |
waiting for the prospectus
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Jul 18 2013, 08:36 PM
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#2
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Senior Member
2,850 posts Joined: Oct 2005 |
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Jul 24 2013, 09:01 AM
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#3
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Senior Member
2,850 posts Joined: Oct 2005 |
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Jul 24 2013, 09:41 PM
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#4
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Senior Member
2,850 posts Joined: Oct 2005 |
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Jul 30 2013, 04:56 PM
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#5
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Senior Member
2,850 posts Joined: Oct 2005 |
easy money today, because we read the prospectus....
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Jul 30 2013, 04:59 PM
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#6
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Senior Member
2,850 posts Joined: Oct 2005 |
i loves SPACs with investor protections!!!!
hahahaha This post has been edited by john123x: Jul 30 2013, 05:00 PM |
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Jul 30 2013, 05:04 PM
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#7
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Senior Member
2,850 posts Joined: Oct 2005 |
i describe SPACs as limited downside, unknown upside, low risk investment
thats why, i read at investlah, lots of people bashing SONA. i wonder do they even read the prospectus. spacs is definitely different from ranhill, or abm fujiya (i never heard of this crap) or AAX at current price. IPO investors got 40% profit already. offer price =0.5 current mother + warrant =0.7 This post has been edited by john123x: Jul 30 2013, 05:07 PM |
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Jul 30 2013, 05:11 PM
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#8
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Senior Member
2,850 posts Joined: Oct 2005 |
QUOTE(davinz18 @ Jul 30 2013, 05:08 PM) the only good point about investlah, is they got IPO opening price prediction.......the rest about investlah, is pure crap.....i think lowyat stock market also needs a IPO Opening price prediction topic too.... |
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Jul 30 2013, 05:31 PM
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#9
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Senior Member
2,850 posts Joined: Oct 2005 |
QUOTE(cadmus @ Jul 30 2013, 05:27 PM) yeap +1 read the prospectus.There was an article previously in The Star that talks about failure of SPACs in overseas and risk etc etc. It came out near CLIQ IPO time i think. I tried to further research but not much info. All i can guess is that, when SPAC fails to acquire within 3 years and refunded the 90%, MAYBE some investors have already bought the share beyond the guaranteed level. Thus, make lost and it's risky. Another possibility is that the acquisition was really horrible and its a loss making business. Thus, share price menjunam below the initial prices. Just my assumptions. before they purchase any company, they will held a EGM to vote for the purchase. Dissenting shareholder can easily exit at that time at 90% of offer price. after EGM, there no more easy exit clause anymore for this case, use your mother share to exit and keep the warrant. |
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Aug 1 2013, 06:56 PM
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#10
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2,850 posts Joined: Oct 2005 |
QUOTE(hmn @ Aug 1 2013, 03:53 PM) I read somewhere don't remember, if no QA within 3 yrs, then 90% refund + interest... firstly, i must tell you, the prospectus only guarantee 90% refund only, it clearly didnt said about the interest. it does said, the funds will be put in an interest bearing trust fund. and it didnt said refund will be with interest. whether they omitted this detail intentionally or not, no one knows.1. Is it really with interest? 2. If yes... what is the rate? 2. the rate of course is the standard FD rate 3% 3. let me show u some calculation. 90% trust fund after 3 years with 3% annually. 0.9x1.03x1.03x1.03 = 0.9834543 i dont want to give u false hope, but "money", who doesnt want more? they can use some excuse "management fee" to pocket the interests. it also depends on the managemejnt is shrewd or not. spacs are designed where even there is no QA, the management sure profit with -10% - trust fund interest -and the transaction fee for refund This post has been edited by john123x: Aug 1 2013, 06:59 PM |
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