- POSTED: 08 Aug 2014 00:20
- UPDATED: 08 Aug 2014 00:42
Indonesian-owned Japfa Limited has registered its final prospectus for a listing on the SGX mainboard, making it the first industrialised agri-food company focused on protein foods to be listed in Singapore.
SINGAPORE: Indonesian-owned Japfa Limited has registered its final prospectus for a listing on the SGX mainboard. This will make it the first industrialised agri-food company focused on protein foods to be listed in Singapore.
The company's operations range from animal feed production and animal breeding to milk production and consumer food production.
Under the IPO, Japfa will offer a total of 248 million shares priced at 80 Singapore cents each. It compromises an international offer of 231.2 million shares and a Singapore public offer of 16.8 million shares.
Japfa is seeking to raise S$198 million in gross proceeds. It plans to use the funds for investment in China and other emerging markets. Despite recent market volatility, Japfa remains upbeat about its IPO, saying that its international offer is five times oversubscribed.
Mr Tan Yong Nang, CEO of Japfa Ltd, said: "We do believe that ... the company has a good foundation, and as I stated earlier because there is a lot of growth opportunity, I think it's best that we actually tap the market and grow the business our way."
The Singapore public offer will open on Aug 8, 2014 and close on Aug 13, 2014. Japfa's shares are expected to begin trading on Aug 15, 2014.