IPO

Sona Petroleum Berhad IPO, Third SPAC in Bursa Malaysia

Sona PetroleumSona Petroleum Bhd, the third Special Purpose Acquisition Company (SPAC) after Hibiscus Petroleum and CLIQ Energy is scheduled to be listed in Main Market on 30th July 2013. Similar to previous SPACs Sona Petroleum will be involved in Exploration and Production activities in Oil & Gas but Sona Petroleum will be the largest.

SPAC, is a company which has no operations or income generating business at the point of IPO but undertakes an IPO with the intention of acquiring operating companies/businesses with the proceeds raised from the IPO.

The Initial Public Offering (IPO) of up to 1.1 billion ordinary shares at an IPO price of RM0.50 per share at RM0.01 par value. It comes with 1 free detachable warrant for each share. The warrants will be listed and tradable from the date of listing, with an exercise price of RM0.50.

The IPO comprises of 141 million shares with 141 million free warrants made available for application by the Malaysian public via balloting.

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Ranhill Energy and Resources Berhad IPO

RanhillRanhill Energy and Resources Berhad, a energy and water company is scheduled to be listed in Main Market of Bursa Malaysia on the 31st July 2013.

The Initial Public Offering (IPO) consists of 407 million shares at an indicative IPO price of RM1.85 per share at RM1.00 par value. Out of these, 328.7 million shares will be offered to institutional investors, while 78.3 million shares will be offered to retail investors including eligible directors, employees & Malaysian public.

The institutional price will be determined by way of book building while for the retail application, it is payable at RM1.85 upon application. If the final retail price is lower, the difference will be refunded accordingly.

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ABM Fujiya Berhad IPO

ABM FujiyaABM Fujiya Bhd, a automotive battery manufacturer based in Kuching, Sarawak is scheduled to be listed in Main Market of Bursa Malaysia on 23rd July 2013.

The Initial Public Offering (IPO) consists of public issues of 23 million new ordinary shares and offer for sale of 9 million ordinary shares at an IPO price of RM0.60 per share and RM0.50 par value.

Out of this, 10.5 million shares are allocated for application by Malaysian public and 4.5 million shares reserved for the eligible directors, employees & business associates. The remaining shares are for private placement.

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AirAsia X IPO Oversubscribed by 3.83 times

AirAsia XAirAsia X Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 161.14 million shares. It was oversubscribed by 3.83  times. The IPO attract 38,975 applications or 575 million shares.

The Institutional Price was fixed at RM1.25 per Offer Share. Accordingly, the Final IPO Price for the Retail Offering is fixed at RM1.25 per Offer Share. The difference of RM0.20 per IPO Share will be despatched to successful retail applicants within 10 market days from 24th June 2013.

Below are the allotment summary.

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AirAsia X Berhad IPO

AirAsia XAirAsia X Bhd, a long-haul low-cost airline is scheduled to be listed in Main Market of Bursa Malaysia on 10th July 2013.

The Initial Public Offering (IPO) consists of institutional offering of up to 538 million shares and retail offering of 252 million shares. Out of 252 million shares made available for retail offering, 150 million shares are for Malaysian Public at RM1.45 per share.

The institutional price will be determined by way of book building while for the retail application, RM1.45 is payable upon application. If the final retail price is lower, the difference will be refunded.

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