IPO - Sona Petroleum Berhad (SONA)

sona opening price no way above 42.5 !!!
son if open 9 sen will face heavy selling !!!
in order to prevent selling pressure of warrant from private issue, i think logical way of opening price for mother should be 40 to 42 sen, then son can hang around 7.5-8.5 sen

2013-07-15 00:32

slowslow

Hi Harvard, i m new. I am not understand how the calculation for 40-42, son 7.5-8.5sen? how to determine the price of wa come out? Thanks ;)

2013-07-18 23:49

if you r new my advice is do not get involve "spac" shares and "call warrant" you better play some small size company with track record.
especially this sona which give 78% to institution players where public only 2 %(only 141 million for public)
how you going to face the 78% of billion shares ? that mean this share is 100% control and they will lock what ever price they want.
this is the only shares klse not allow them to sell 20% of their shares in 3 years but they got 78% to dump out !!
what ever it is you just add up the mother n warrant price, any premium above 50 sen will be their profit !!!
spac shares is very very high risk casino shares, Spore and HK not allowed this type of nonsense, give him money for 3 years to buy a business,if can not buy one then return 90% money back to you !!!

2013-07-19 01:24

hybrid2013

Ipo spac normally raise by private placement retailer, institutional will not participate in this ipo due to their investment process and mandate that would not allow them to invest in comp which has no track record,businesses n fundamentally zero, I think it's worth buying with free wa n 90% protected in3 years, gud luck this 30th july, worth it

2013-07-19 01:46

slowslow

Thanks Harvard for this great advise, i will bear in mind. ;) i got others share,like jaks & inari. My remiser told me Sona not bad. I m thking, mother/son can get faster money within a month

2013-07-19 23:00

slowslow

Thanks Hybrid, i didnt get ipo. It means i buy mother in Market i wont get the free wa right after listed. ;)

2013-07-19 23:04

houseofordos

Please check out the information here for more accuracy.. Got cornerstone investors and public and insitutional allocation is 78% (not 2% for public) (From startbiz)
http://www.thestar.com.my/Business/Business-News/2013/07/18/Sona-Petroleum-public-issue-oversubscribed.aspx

Sona Petroleum, which aims to eventually make the transition to an independent E&P company, has already secured commitments from six institutions both local and foreign as cornerstone investors, making it the first SPAC to do so.

They are Hong Leong Asset Management Bhd, Hong Kong-based hedge fund Segantii Capital and Davidson Kempner European Partners, along with the fund management houses of the three banks backing the listing: CIMB-Principal Asset Management Bhd, Kenanga Investors Bhd and RHB Investment Management Sdn Bhd.

Post-IPO, the management will hold 20% of the firm’s enlarged share base, the public and institutions 78% and initial investors 2%. The identities of the initial investors were not disclosed in the prospectus.

2013-07-20 08:55

houseofordos

sorry this is the correct link
http://www.thestar.com.my/Business/Business-News/2013/07/06/Sona-Petroleum-stokes-interest.aspx

2013-07-20 08:56

i believe this will be last spac shares for Msia bcos after ipo sure facing selling pressure from alot of unknown sellers !!!
this is a quick money game by political vip, who go in fast and chowww fast win the money. you guys also got to study carefully the so called fake cornerstone investor,it could be pre-arranged !!! that mean all will become pledge shares to bank and once got margin (mother +warrant more than 50 sen ) they will load to you, after all is free money mah !!!
let me pre warn newbie here, if you want to gamble go in and out got to b fast,DO NOT greedy got 1 sen must take profit !!! spac shares is no more popular in developed countries bcos ALL kena con after 2 years. no spac company will seriously go buy a good business one lah,even they buy also got big kick back for them lah, (just to full fill that got buy up a company as promised.)
i can tell you bcos of hibiscus n cliq now ppl are crazy of spac !!!
in share market ONCE EVERY BODY IS TALKING ABOUT IT(sona got this sign)even a cleaner start asking how to apply,then its confirm CRASH !!!!! (in 1929 before wall street crash, all NY street shoe polishers also asking how to buy a share)

2013-07-20 15:24

Hibiscus, cliq, sona, wonderful SPAC, all in the fantastic oil and gas industry, or are they?

These are all murder holes! SPAC is the short from of Selling Promises And Craziness. Best deal for investment bankers.

Think about it!
1) Would a promising company need to do deal or merge with SPAC, or rather it just go public through a IPO on its own merits?
2) SPAC no doubt has some seemingly successful business people behind them. Are you sure they too will succeed in this new ventures? Or they were successful because of luck or through other people? I tend to believe more of the later.
3)Believe in Harvard57 above, those early birds whose cost is so much lower will unload in droves once listed, leaving those poor retail investors holding the hot potato.
4) Investment bankers will be laughing to the banks with your money. They pay themselves multiple times:
a) When they take it public
b) Consultant to the SPAC on retainer as a potential acquisition is sought.
c)When an acquisition is found
d) The one year process when SPAC is seeking shareholders and regulator approvals.

Fees, fees, fees, an ATM machine for the investment bankers. Guess whose money in the ATM machine?

2013-07-21 08:43

prc4wifefe

Well said kc

2013-07-21 10:02

prc4wifefe

@abundance...CLIQ jul22 is just AGM....I have been saying already quite awhile, I believe there will be no announcement abt acquisition....at most they will say they are in process of acquiring.

Cannot just like this announce in press conference we are gonna acquire which and which company....NEED TO OBSERVE DUE DILIGENCE...NO way they will say anything coz if the deal not finalize and collapse how would it look on them???

They need to call EGM to get shareholder approval if there's really any QA.

I foresee that the price might drop late Mon or Tue...be prepared to take profit earlier and run first....before ppl realize there's no QA and start dumping the shares....shares might drop back to 0.3 - 0.4 level

Just my 2 cents worth...

2013-07-21 10:11

Dondy BC Lee

what happen to institution who committed to subscribed,why no new after closing on 17/7/13, under subscribed ???

2013-07-22 17:18

hornydog

Another conjob ar this one?

2013-07-22 18:00

Kamaru BahariBakar

Reminder: Sona Petroleum is long lost friend with Cliq, you see what happen to Cliq today.

2013-07-22 19:01

hornydog

Sona = CLIQ little brother?

2013-07-22 19:09

Posted by kcchongnz > Jul 21, 2013 08:43 AM | Report Abuse X

Hibiscus, cliq, sona, wonderful SPAC, all in the fantastic oil and gas industry, or are they?

These are all murder holes! SPAC is the short from of Selling Promises And Craziness. Best deal for investment bankers.

Think about it!
1) Would a promising company need to do deal or merge with SPAC, or rather it just go public through a IPO on its own merits?
2) SPAC no doubt has some seemingly successful business people behind them. Are you sure they too will succeed in this new ventures? Or they were successful because of luck or through other people? I tend to believe more of the later.
3)Believe in Harvard57 above, those early birds whose cost is so much lower will unload in droves once listed, leaving those poor retail investors holding the hot potato.
4) Investment bankers will be laughing to the banks with your money. They pay themselves multiple times:
a) When they take it public
b) Consultant to the SPAC on retainer as a potential acquisition is sought.
c)When an acquisition is found
d) The one year process when SPAC is seeking shareholders and regulator approvals.

Fees, fees, fees, an ATM machine for the investment bankers. Guess whose money in the ATM machine?

2013-07-22 19:11

pathew

great sharing... so punt this short term and leave it be :)

2013-07-22 19:20

Susan Raj

I am quite sceptic about this oil and gas ipos.listing and the future performance and the expertise that is behind all this great cash collecting spree. the first on the list being hibiscus is moving.....

2013-07-23 14:05

http://www.thestar.com.my/Business/Business-News/2013/07/24/Petronas-licence.aspx

Investment Idea updated!

The red hot SPAC

http://loryau.blogspot.com/2013/07/spac-boom-part-1.html

2013-07-24 00:57

FrankyHot

2013-07-24 19:34

i also sense something fishy why no news on institution portion ??
may be under subscribed now quietly talking to bank to pledge in these shares!!!

2013-07-25 19:38

Posted by loryau86 > Jul 24, 2013 12:57 AM | Report Abuse
Investment Idea updated!
The red hot SPAC

Talk about investment, if anybody tells you this investment is "red hot", you better run for your life!

2013-07-26 05:35

Posted by Harvard57 > Jul 25, 2013 07:38 PM | Report Abuse
i also sense something fishy why no news on institution portion ??
may be under subscribed now quietly talking to bank to pledge in these shares!!!

Institutional money is smart money. I can't imagine institutions will buy SPAC as investment, unless they can get it dirt cheap compared with the public, and can dump them immediately to make a kill when listed. And who will be "killed"? No prize for the correct answer.

If one knows about what is APAC, how it works, what it does, what is the costs involved, who is the ultimate beneficiary, the experience in the US and other more developed countries and ultimately the efficient market hypothesis, you will never even look at it.

By the way, can any honest and knowledgeable investment banker come out here and say something good about investing in SPAC without blinking his eyes?

2013-07-26 05:44

Hot.T

Did anyone manage to get ipo under miti allocation? If you did, did miti notify you via post, email or we can check if we were successful on miti's website? Or via the issuing house's website? Appreciate a reply. Thanks

2013-07-28 02:22

Since you are applying thru miti so check thru miti website ma. Nothing to do with the issuing house.

2013-07-28 04:39

Hot.T

Thanks pari57..btw, its for UMW O&G but since Sona's the most recent, thot i'd drop by here to query..most prob results not out yet since there's no icon for "check application status". Thanks all..

2013-07-28 12:22

Westpory IPO, Closing date 30 July.

2013-07-28 12:41

Sorry, Westport.

2013-07-28 12:42

http://www.btimes.com.my/Current_News/BTIMES/articles/suna/Article/index_html

Miti website. Bumiputera special sharem

2013-07-28 16:21

iafx

2013-07-29 09:31

This is because the structured nature of a SPAC ensures the confidence of long-term investments, managing director Datuk Seri Hadian Hashim said.

"The value in the company is derived when the management team is successful in acquiring the right assets for Sona Petroleum."

Confidence ensured? What confidence do you give investors when you presently have nothing but a shell company trying to scout for an unknown hype?

What value? How come a "right asset" will go to you? Haven't you heard of Charles Munger said below:

"When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'"

Meanwhile it is expense, expense expense; and fees, fees, and fees for the shareholders while the investment bankers are laughing, laughing and laughing.

2013-07-29 10:42

joyjoy

SPAC is similar to a venture capital fund. If you believe that the manager of the fund has better networks and contacts, and they are in a better position to access opportunities, then, that is their value. A venture capital fund invests in various start-ups, most of which probable will fail. But if they get one right, then that is where the returns will come from. Being listed, SPAC allows for the small investors to participate in opportunities that the average Joe prob cant access. The principle is the same as investing in a Venture Capital Fund which normally will require a minimum investment of a more substantial sum. Not saying SONA is great or lousy. It is just another investment option. If you believe in the managment, good. Otherwise, crap...

2013-07-29 15:53

kohkaitong

worth to buy ? any comment?

2013-07-30 08:28

my101home

Buy mother or warrant better?

2013-07-30 08:34

dett

Thanks for sharing your thought kcchongnz & joyjoy

2013-07-30 08:49

ykinvestor

I just wonder if sona-wa will close on par with cliq wa today ?

2013-07-30 10:50

Updated!

SPAC BOOM (Part 2)

Why should we invest in SPAC Instead of those company that has track record and good dividend?

http://loryau.blogspot.com/2013/08/spac-boom-part-2.html

2013-08-08 00:10

Market Drop? Scare? It's time to buy! What to buy? SPAC the best to buy!

SPAC BOOM PART 3 UPDATED!

Stages of SPACs and where are they now?

http://loryau.blogspot.com/2013/08/spac-boom-part-3-different-stages-of.html

2013-08-20 20:36