indonesian-shipping-firm-set-for-first-dual-listing-in-singapore

Indonesian shipping firm set for first dual listing in Singapore

BLT prices Singapore offer at a 10% discount to locally listed shares, achieving a total deal size of $117 million.
PT Berlian Laju Tanker BLT is set to become the first Indonesian company to complete a dual primary listing in Singapore after it fixed the price of its S$184.3 million $117 million share offer on Monday. The shares, which will be fully fungible with the companyÆs Jakarta-listed stock, are due to start trading on October 30.

The controlling shareholder of IndonesiaÆs largest liquid cargo shipping company sold 576 million secondary shares at S$0.32 a piece, which corresponded to a 10% discount to its closing price in Jakarta on Friday October 20. During the final two days of bookbuilding last week, the bookrunners told investors that the Singapore offer would price at a zero to...
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