IndoAgri boosts freefloat to 25%

The Singapore-listed Indonesian producer of edible palm oil products sells a maximium number of shares at the highest price.

Singapore-listed Indofood Agri Resources has raised the maximum S$422.5 million $270 million it sought from a fully-marketed share offer that will lift its freefloat to 25%, according to a release issued by the company yesterday.

The announcement came after sources said the integrated palm oil producer, which is based in Indonesia, had attracted demand for more than 20 times the shares on offer from over 200 investors. The majority of the demand came from Southeast Asia and Hong Kong and...

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