Japfa, the Indonesian meat processor and dairy farm operator, attracted solid demand from retail investors during its Singapore initial public offering on Thursday.
Despite being offered just 6.8% of the deal, retail investors placed orders for almost 10 times as many shares applications totalled 163.5 million shares, according to a source close to the deal, for the 16.8 million shares included in the retail tranche.
It was clear from the start of...