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 IPO: Red Sena Bhd, First F&B SPAC 2015 Listing

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Average-Joe
post Dec 9 2013, 04:25 PM

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The name of the company is Red Sena F&B Berhad.

I heard the proposed listing is put on hold pending new SPAC guidelines from SC.

At least 3 more months before they could list on the main market.


Average-Joe
post Dec 24 2014, 04:03 PM

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So far this SPAC seems attractive...strong management team and board line up...extended moratorium...F&B being a lower risk industry...will definitely give it a try! thumbup.gif
Average-Joe
post Jul 16 2015, 01:39 PM

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Yeah only private placement to selected investors and usual offering to the public investors.

This F&B SPAC really seems interesting especially at the current market conditions. Considering that SC been so strict to SPAC applicants and even normal IPO applicants. More importantly 3 of out 4 listed SPACs have not found their qualifying assets...it would be interesting to see how would the market players view this SPAC?


Average-Joe
post Nov 18 2015, 03:27 PM

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They are not worried as 90% of their offering has been taken up via private placement and it was actually oversubscribed. So if the retail offering application falls below 10%, there is a "clawback and reallocation" mechanism to give to those investors who were not successful under the private placement. Even if there is no taker, the 10% is already fully underwritten by the underwriters.

 

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