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Sona Petroleum IPO receives 35% takeup from cornerstone investors

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Sona Petroleum IPO receives 35% takeup from cornerstone investors Empty Sona Petroleum IPO receives 35% takeup from cornerstone investors

Post by Cals Fri 05 Jul 2013, 11:57

Sona Petroleum IPO receives 35% takeup from cornerstone investors
Business & Markets 2013
Written by Zatil Husna Wan Fauzi of theedgemalaysia.com
Friday, 05 July 2013 11:49

KUALA LUMPUR: Sona Petroleum Bhd has received 35% take-up from cornerstone investors for shares in its IPO.

Sona's managing director, Datul Sri Hadian Hashim said after the launch of its prospectus today that its cornerstone investors have taken up 275 million shares in total.

Hong Leong Asset Management, CIMB and Kenanga are amongst the cornerstone investors.

"This is the first SPAC (special purpose acquisition company) that has received high level of interest from a variety of investors, both local and foreign. Sona is potentially the largest SPAC to-date," Hadian added.

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