Hibiscus Petroleum Berhad’s IPO
Hibiscus Petroleum Berhad’s IPO is now available until 5:00PM, 13 July 2011. It will be listed on Main Market of Bursa Malaysia on 25 July 2011. Details as follows:
- Bumi Armada Berhad, Unit Price = RM0.75
Business Overview
Hibiscus Petroleum Berhad intend to list on the Main Market of Bursa Securities as a SPAC. SPACs are companies which have no operations or income generating business at the point of IPO but undertake an IPO for the purposes of raising funds to acquire operating companies, businesses and assets, otherwise known as qualifying acquisition(s).
Hibiscus Petroleum Berhad intend to establish their company as a junior independent oil and gas E&P player in the near to medium term. in general, upstream oil and gas activities consist of the exploration, development and production of oil and gas resources.
Initially, their focus will be to identify and acquire the rights to develop small and medium sized oil and gas fields in the South Asia, Middle-East, East Asia and Oceania regions.
- SPAC: Special Purposes Acquisition Company
- E&P: Exploration and Production
Note: Please make sure you have read the IPO’s Prospectus before apply. List of Prospectus for new IPOs can be found here.
- How to open a CDS account? Click here
- How to apply IPO via online? Click here
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