United States

Analyst Research Report Snapshot


Flash Note – Petra Energy (ADD, maintain) - Issue price for rights shares fixed at RM1.15




Affin Hwang Investment Bank Bhd


27 Feb 2013





Companies referenced:


Available for Immediate Download

Rights issue price fixed at RM1.15 Petra Energy announced that its Board of Directors had fixed the issue price of the 1-for-2 proposed rights shares at RM1.15 each. The issue price of the rights shares (50% of current share base) represents a discount of approximately 14% to the theoretical ex-rights price of RM1.34 (calculated based on 5-day VWAP). The ex-date for the rights issue is 11 March 2013 and entitlement date is 13 March 2013. In its earlier announcement, Petra Energy had procured irrevocable written undertakings from its major shareholders, namely Shorefield Resource (27.5%), Wasco Energy (26.9%) and Dato’ Mohamed Nizam bin Abdul Razak (9.1%) to subscribe in full their respective number of right shares entitlements.

Why buy analyst research?

  • Institutional quality research
  • Available for Immediate Download
  • Detailed company or industry insight
  • Print or save
  • 24 hour customer support
Return to previous page without adding this item to your cart.
Email Customer Support.

About Analyst Research

Analyst research reports are available for immediate download after purchase. You will have unlimited access to the report for 24 hours after purchase, to download, print or save it as many times as you wish. Analyst Research provided by Reuters does not constitute investment advice, and is not endorsed by Reuters Research. This information is protected by copyright and intellectual property laws. More information on Analyst Research.