Long-time Golden Agri shareholders take profit

The $277 million placement by two shareholders in the palm oil producer is priced at a 9.6% discount.

Two individual shareholders in Golden Agri Resources have raised a combined S$400.5 million $277 million from the sale of shares in the Indonesia-based crude palm oil producer.

The placement, which was arranged by CLSA, attracted good interest on the back of strong demand for crude palm oil CPO and rising CPO prices and ended about 1.6 times covered, according to a source. The demand was sufficient to have allowed the upsize option of 45 million shares to be exercised,...

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