Tuesday, 26 April 2016

Why are people still buying SONA-WA?

Sona has 3 months left before the SPAC expires.

i) It is tough to find another asset, make submission for the proposed acquisition and obtain SC's approval within such a short period

ii) Sona's independent director Datuk Mohamed Khadar Merican has said that Sona did not have plans to submit another proposal as management is aware that a few substantial shareholders are "yield investors", who are not keen on the oil assets.

iii) Even if there is another proposed acquisition, would the voting pattern swing drastically from an overwhelming NO?

Why people are buying SONA-WA when it is becoming "toilet paper"?

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