Sri Trang prices Singapore share offer amid some confusion

The Thai rubber producer overcomes a market sell-off to raise $262 million ahead of a dual listing in Singapore, but causes confusion with an erroneous statement saying the deal had been cancelled.

Sri Trang Agro-Industry, a leading rubber producer in Thailand and globally, is set to become the first Bangkok-listed company to have a dual listing in Singapore after yesterday fixing the offer price at S$1.20 per share. This allowed the company to raise S$336 million $262 million.

The share offer didn’t come without its difficulties, however. The pricing had to be postponed from Monday after the Thai market suffered its biggest plunge in 15 months and yesterday morning the company issued a statement on the Stock Exchange of Thailand’s website saying the deal had been cancelled, only to retract it some 50 minutes later, saying the deal was still on.

The two statements understandably caused...

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