Tempo Scan share sale increased to $229 million

Robust demand from high-quality institutions allows the majority owner to sell more shares than planned in Tempo Scan, an Indonesian pharmaceutical and consumer products company.

Tempo Scan share sale increased to $229 million
Tempo Scan's $229 million offering is the biggest equity deal in Indonesia this year

The controlling shareholder of Indonesia’s Tempo Scan Pacific has raised Rp2.12 trillion $229 million from the sale of existing shares through a fully marketed transaction that was enlarged beyond the previously announced deal size, pushing the free-float above 20%.

Bogamulia Nagadi ended up selling a total of 800 million shares in the pharmaceutical, consumer products and cosmetics company, which is 18.5% more than the initial base deal and upsize option combined. The deal was also...

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