Japfa books open ahead of Singapore IPO

Demand strong for the Indonesian meat processor and dairy farmer, with investors keen on the underlying story. The company aims to raise S$248.1 million.

Books have opened for the IPO of Indonesian meat processor and dairy farm operator Japfa, which aims to float its shares in a Singapore listing and raise up to S$248.1 million $199.7 million.

Some 248 million shares are being offered between S$0.75 to S$0.87 per unit, with the shares representing 14.2% of the enlarged share capital, according to a term sheet.

An exercised greenshoe option would add an additional 37.2 million shares and bring the amount raised to S$248.1 million.

Credit Suisse and DBS are leading the deal, with demand robust books were covered several hours after the bookbuild began, a banker close...

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