The Star - Sizzling SPACs
SPACS (special-purpose acquisition companies) are red hot at the moment.
he massive demand for shares of the soon-to-be-listed Sona Petroleum Bhd is testament to that. By some estimates, a whopping RM3bil of liquidity was chasing to get a slice of the RM550mil worth of shares being offered in that IPO. And banking sources claim that demand was more than that RM3bil figure.
Investors are no doubt drawn to the 327% total returns that an IPO investor in Hibiscus Petroleum Bhd (the first listed SPAC) is sitting on.
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