Hibiscus: No approvals looked for SPAC itemizing

PETALING JAYA: Hibiscus Petroleum Bhd says no board approvals have been sought to make any submission to any inventory alternate for the itemizing of a particular goal acquisition firm (SPAC) in responding to stories that it was contemplating itemizing a clean test firm in Singapore.

The oil and fuel firm additionally famous it has not mandated or appointed any advisor or funding financial institution to make any submission for a SPAC itemizing.

“Within the occasion that the corporate does elect to undertake any materials company train, all inner approvals shall be obtained previous to the suitable disclosure being launched,” Hibiscus stated. “In accordance with the corporate’s rigorous diligence requirements, the board and administration shall solely suggest any such train if deemed to be in one of the best pursuits of its shareholders,” it added.


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