Malaysian regulator rejects $317 mln oil and gas IPO – IFR


Why now? Did Matrix not have access to the right pockets? Please note the words ‘blank cheque’.

Dateline 2014-08-15, Reuters:

Malaysia’s securities regulator rejected a $317 million initial public offering of Matrix Capacity Petroleum, IFR reported on Friday, citing a source familiar with the deal.

The deal would be the biggest in the country for a special purpose acquisition company (SPAC), also known as blank check IPOs because companies raise money through the stock market without a single asset on their books.

Matrix Capacity planned to launch the IPO in the second half of 2014 and use the funds to buy oil and gas assets, added IFR, a Thomson Reuters publication. Malaysia’s Securities Commission didn’t immediately return a request for comment on the decision, IFR said.

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This entry was posted on Sunday, November 2nd, 2014 at 6:06 am and is filed under investment, Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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