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 IPO: Sona Petroleum Berhad, SPAC IPO

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john123x
post Jun 15 2013, 07:22 PM

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waiting for the prospectus
john123x
post Jul 18 2013, 08:36 PM

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QUOTE(minshome @ Jul 18 2013, 08:27 PM)
wat's the next ipo? when?
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recommended westport IPO next
john123x
post Jul 24 2013, 09:01 AM

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QUOTE(hyzam1212 @ Jul 24 2013, 08:02 AM)
I thought no hope d...after one week they gave me some...Alhamdulillah...gd luck guys
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nice raya luck u have there
john123x
post Jul 24 2013, 09:41 PM

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QUOTE(Purplewitch @ Jul 24 2013, 09:39 PM)
expect some abalone meal from this stock ... worst case still got KFC at least..  rclxms.gif
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i was expecting an ipad mini at least
john123x
post Jul 30 2013, 04:56 PM

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easy money today, because we read the prospectus....
john123x
post Jul 30 2013, 04:59 PM

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i loves SPACs with investor protections!!!!

hahahaha



This post has been edited by john123x: Jul 30 2013, 05:00 PM
john123x
post Jul 30 2013, 05:04 PM

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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
john123x
post Jul 30 2013, 05:11 PM

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QUOTE(davinz18 @ Jul 30 2013, 05:08 PM)
investlah no quality, always negative or kopitiam style comments. Here better  biggrin.gif
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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....
john123x
post Jul 30 2013, 05:31 PM

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QUOTE(cadmus @ Jul 30 2013, 05:27 PM)
yeap +1

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. smile.gif
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read the prospectus.

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.

john123x
post Aug 1 2013, 06:56 PM

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QUOTE(hmn @ Aug 1 2013, 03:53 PM)
I read somewhere don't remember, if no QA within 3 yrs, then 90% refund + interest...

1. Is it really with interest?
2. If yes... what is the rate?
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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.

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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