SPAC

CLIQ EnergyCLIQ Energy Berhad Initial Public Offering (IPO) received an good response with its public portion of 10 million shares. It was oversubscribed by 7.34 times. The IPO attract 4,111 applications or 83.42 million shares.

A total of 402.4 million were being place out by way of placement to selected investors. In addition, 73.42 million from private placement portion transferred to retail portion. As such, 73.42 million shares were made available for retail portion and all retails applicants will received the exact number of shares that they apply.

Notices of Allotment will be dispatched by post to all successful applicants on or before 9th April 2013. CLIQ Energy is expected to be listed on the Main Market of Bursa Malaysia on 10th April 2013 under stock name “CLIQ”.

Details information are available in Bursa Malaysia webpage.


CLIQ EnergyCLIQ Energy Bhd, the second Special Purpose Acquisition Company (SPAC) after Hibiscus Petroleum is scheduled to be listed in Main Market on 10th April 2013. CLIQ Energy will be involved in Exploration and Production activities in Oil & Gas.

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) consists of 200 to 667 million ordinary shares at an IPO price of RM0.75 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 10 million shares with 10 million free warrants made available for application by the Malaysian public via balloting

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Hibiscus Petroleum Berhad

Hibiscus Petroleum Berhad Initial Public Offering (IPO) received an good response with its public portion of 10 million shares. It was oversubscribed by 3.80 times. The IPO attract 4,757 applications or 48.2 million shares.

However, only 265.4 million out of 400 million were being place out by way of placement to selected investors. In other word, it was under subscribed.

Under the clawback provision set out in prospectus, 38.2 million from private placement portion transferred to retail portion. As such, 48.2 million shares were made available for retail portion and all retails applicants will received the exact number of shares that they apply.

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Hibiscus Petroleum Berhad

Hibiscus Petroleum Bhd, the first Special Purpose Acquisition Company (SPAC) to be listed in Main Market on 25th July 2011.

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) consists of 200 to 400 million ordinary shares at an IPO price of RM0.75 per share at RM0.01 par value. It comes with 1 free detachable warrant for each share. 10 million shares are offered to Malaysian public.

The warrants will be listed and tradable from the date of listing, with an exercise price at a discount of approximately 33% to the issue price of RM0.75 per share.

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