CLIQ to be first Spac to fold amid failed acquisition

Oil pipeline 230x150
By John Loh
25 Feb 2016

CLIQ Energy is set to be the first Malaysian special purpose acquisition company (Spac) to be liquidated after the regulator rejected its request for more time to make a qualifying acquisition.

That means the oil and gas Spac will have to liquidate soon and return the cash raised during its IPO three years ago to shareholders, according to a stock exchange filing on Wednesday.

CLIQ, which was the second Spac to list on Bursa Malaysia after Hibiscus Petroleum, ...

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