Bumitama Agri IPO

Investors look to Singapore for positive trading signals

Investors are hoping for a positive trading debut for Bumitama Agri after the company raises $177 million from a well-received IPO.
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A worker loads palm oil fruits on to a lorry at a plantation in Indonesia (AFP) </div>
<div style="text-align: left;"> A worker loads palm oil fruits on to a lorry at a plantation in Indonesia (AFP) </div>

After a quiet first quarter, Singapore will see this year’s first IPO of size start trading on Thursday. Bumitama Agri, a crude palm oil producer with all of its businesses in Indonesia, saw strong demand for the IPO, allowing it to fix the price at the top of the range for a total deal size of S$221.7 million $177 million. If that interest is any indication, the stock should trade well.

A positive trading debut, or at least one where investors won’t lose money, is important for the market as issuers and bankers hope to execute a large portion of the deals that have been accumulating in the...

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