Wilmar completes placement to boost free-float after reverse takeover

The Indonesian-based palm oil producer prices shares close to top end of the price range after playing into investor demand for alternative energy assets.

Integrated palm oil producer and refiner Wilmar International has raised S$300 million $190 million from a share placement which was needed to comply with the 12% minimum free-float and investor spread requirements.

The company, which obtained a Singapore listing early last month after a reverse takeover of small-scale healthcare provider Ezyhealth Asia Pacific, on Monday July 31 priced its shares slightly below the top of the range at S$0.80 apiece to reflect some price sensitivity in the book and the...

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