Sona Petroleum Bhd, a special purpose acquisition company (SPAC), is eyeing to raise up to RM550 million from its initial public offering (IPO) exercise on the Main Market of Bursa Malaysia Securities.In its prospectus exposure on Securities Commission Malaysia’s (SC) website Thursday, the company said its IPO comprises issuing up to 1.1 billion new shares of one sen each, together with up to 1.1 billion free detachable warrants on the basis one warrant for every one new share subscribed.
Sona is helmed by managing director Datuk Seri Hadian Hashim, who is a major shareholder in Integrated Petroleum Services Sdn Bhd, a company that provides services and products to the upstream oil and gas sector. The company’s executive director is Datuk Masnah Abdul Jalil, who was head of corporate finance and principle investments at Hong Leong Financial Group Bhd.
Prior to that, Maznah was senior group director for corporate finance and advisory of DRB-HICOM Bhd.
Sona Petroleum Bhd was formerly known as: Titanium Windfall Sdn Bhd.
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