Sona IPO is best mid-cap equity deal of the year in South-East Asia

PETALING JAYA: Sona Petroleum Bhd’s RM550mil initial public offering has been named the “best mid-cap equity deal of the year in South-East Asia” of the 7th Annual Alpha South-East Asia Deal and Solution Awards 2013.

CIMB Investment Bank and RHB Investment Bank were the joint principal advisers, joint placement agents, joint managing underwriters and joint underwriters for the deal while Kenanga Investment Bank and MIDF Amanah Investment Bank were the joint underwriters.

Sona is the third special purpose acquisition company to be listed on Bursa Malaysia.

According to reports, Sona’s stated plans are to acquire oil and gas assets that are already producing and whose cash flows would enable it to fund future acquisitions.

The bulk of the proceeds from its IPO are being put into a trust.

Meanwhile, the US$11.68bil (RM38.54bil) acquisition of Fraser & Neave Ltd by TCC Assets, a company owned by Thai billionaire Charoen Sirivadhanabhakdi, was named the “best cross border M&A deal of the year in South-East Asia” as well as “the best deal of the year in South-East Asia for minority shareholders”.

DBS Bank, UOB, Goldman Sachs, JP Morgan and Morgan Stanley were the joint financial advisers for the deal.

Separately, the “best Islamic finance deal of the year in South-East Asia” and “best bond deal of the year for retail investors in South-East Asia” was DanaInfra ICP’s RM300mil exchange traded retail sukuk.

The joint lead managers were AmInvestment Bank, Maybank Investment Bank, CIMB Investment Bank and RHB Investment Bank.

A total of 32 awards and 16 borrower/issuer awards were given under the Annual Alpha South-East Asia Deal and Solution Awards 2013.

The awards, which is organised by Alpha Southeast Asia magazine, will be presented at a regional awards luncheon in Kuala Lumpur on Jan 23.