Bumitama Agri's Singapore IPO attracts strong order flow

The Indonesian crude palm oil producer is seeking to raise up to $176 million, with more than 40% of the shares set aside for cornerstone investors.

Bumitama Agri's Singapore IPO attracts strong order flow
Harvesting of palm oil fruits at a plantation in Indonesia (AFP)

Investors are said to be flocking to Bumitama Agri’s initial public offering in Singapore the first new listing of size in the Lion City this year.

The Indonesia-based producer of palm crude oil and palm kernel is aiming to raise between S$200.9 million and S$221.6 million $159 million to $176 million and even before it launched the bookbuilding on Monday it had allocated 42% of the shares on offer to six cornerstone investors. It was...

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