IPO - Sona Petroleum Berhad (SONA)
Author: kltrader | Publish date: Fri, 5 Jul 18:37
Listing Detail:
Listing Sought: Main Market
Issue Price: RM 0.50
Par Value: RM 0.01
Dates:
Offer Period Open: 5/7/2013
Offer Period Close: 12/7/2013
Tentative listing date: 30/7/2013
Number of shares:
Public Issue: Up to 1,100,000,000 Shares together with up to 1,100,000,000 free detachable warrants
Private Placement: Up to 959,000,000 Shares together with up to 959,000,000 free detachable warrants
Stock Code: SONA
Official Announcement
INITIAL PUBLIC OFFERING OF UP TO 1,100,000,000 NEW ORDINARY SHARES OF RM0.01 EACH IN SONA PETROLEUM BERHAD (FORMERLY KNOWN AS TITANIUM WINDFALL SDN BHD) (“SONA PETROLEUM”) (“SHARES”) (“PUBLIC ISSUE SHARES”), TOGETHER WITH UP TO 1,100,000,000 FREE DETACHABLE WARRANTS (“WARRANTS”) ATTACHED ON THE BASIS OF ONE (1) WARRANT TO
EVERY ONE (1) PUBLIC ISSUE SHARE, AT AN ISSUE PRICE OF RM0.50 PER PUBLIC ISSUE SHARE AND ATTACHED WARRANT, IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE SHARES AND WARRANTS ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD, COMPRISING:
(I) THE RETAIL OFFERING OF 141,000,000 PUBLIC ISSUE SHARES TOGETHER WITH 141,000,000 ATTACHED WARRANTS TO THE MALAYSIAN PUBLIC; AND
(II) THE INSTITUTIONAL OFFERING OF UP TO 959,000,000 PUBLIC ISSUE SHARES TOGETHER WITH UP TO 959,000,000 ATTACHED WARRANTS BY WAY OF PLACEMENT TO SELECTED INVESTORS, COMPRISING:
- UP TO 176,340,000 PUBLIC ISSUE SHARES TOGETHER WITH UP TO 176,340,000 ATTACHED WARRANTS TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY; AND
- UP TO 782,660,000 PUBLIC ISSUE SHARES TOGETHER WITH UP TO 782,660,000 ATTACHED WARRANTS TO MALAYSIAN INSTITUTIONAL AND SELECTED INVESTORS AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS,
SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS.
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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