KUALA LUMPUR: Sona Petroleum Bhd will be delisted from Bursa Malaysia on Thursday, June 28, the company said yesterday.

“The entire issued share capital of Sona will be removed from the official list of Bursa Securities with effect from 9am, June 28, 2018 pursuant to Paragraph 16.11(1)(d) of the Main Market Listing Requirements of Bursa Securities,” it told Bursa Malaysia in a filing.

Sona Petroleum was listed on July 30, 2013 as a special purpose acquisition company, but it failed to proceed with its proposed US$25 million qualifying acquisition of the Stag Oilfield located off Western Australia in April 2016.

Concerns were raised over the asset’s quality, as well as Sona’s ability to secure an extension of the licence for the oilfield, which expires this year.

After missing the three-year QA deadline, Sona Petroleum began its winding up proceedings in August 2016, following which its shares were suspended from trading on Sept 27, 2016.