Hibiscus, Catcha below IPO levels
Publish date: Tue, 26 Jul 2011, 11:51 AM
KUALA LUMPUR: Recently-listed Hibiscus Petroleum Bhd and Catcha Media Bhd were trading below their offer prices at the midday break on Tuesday, July 26.
Hibiscus Petroleum, a special purpose acquisition company, was up 5.5 sen to 58.5 sen, but still below its adjusted offer price of 62.5 sen. There were 12.96 million shares done between 53.5 sen and 59 sen.
Its offer price was 75 sen but it was adjusted upon listing to 62.5 sen for the warrants at 12.5 sen.
Its public issue of 10 million new shares at 75 sen each made available to the public oversubscribed 3.8 times. It was listed on Monday.
Meanwhile, Catcha Media trekked lower, down seven sen to 62 sen. There were 952,100 shares done at prices ranging from 60.5 sen to 68.5 sen.
Its offer price was 75 sen and it was listed last Friday, July 22. Its public offer of three million shares to the public was oversubscribed 10.67 times.
Hibiscus Petroleum, a special purpose acquisition company, was up 5.5 sen to 58.5 sen, but still below its adjusted offer price of 62.5 sen. There were 12.96 million shares done between 53.5 sen and 59 sen.
Its offer price was 75 sen but it was adjusted upon listing to 62.5 sen for the warrants at 12.5 sen.
Its public issue of 10 million new shares at 75 sen each made available to the public oversubscribed 3.8 times. It was listed on Monday.
Meanwhile, Catcha Media trekked lower, down seven sen to 62 sen. There were 952,100 shares done at prices ranging from 60.5 sen to 68.5 sen.
Its offer price was 75 sen and it was listed last Friday, July 22. Its public offer of three million shares to the public was oversubscribed 10.67 times.
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Hibiscus kena...catcha pon kena...hish...hish...ada ka nak dpt modal blk ni...tunggu aje la...
2011-08-01 00:34
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A pensioner told me he had subscribed for the Hibiscus Petroleum IPO because he thought this company is in the petroleum business and hence it is safe to invest in. He did not realize that it is a shell company with no assets and no operating revenue and income at all. I am sure he is not the only one who had subscribed for the IPO. Good luck to them and their hard-earned savings!
2011-07-26 15:49