longtime-golden-agri-shareholders-take-profit

Long-time Golden Agri shareholders take profit

The $277 million placement by two shareholders in the palm oil producer is priced at a 9.6% discount.
Two individual shareholders in Golden Agri Resources have raised a combined S$400.5 million $277 million from the sale of shares in the Indonesia-based crude palm oil producer.

The placement, which was arranged by CLSA, attracted good interest on the back of strong demand for crude palm oil CPO and rising CPO prices and ended about 1.6 times covered, according to a source. The demand was sufficient to have allowed the upsize option of 45 million shares to be exercised, but one of the vendors had wanted a price of at least S$1.80 per share and decided not to sell any additional paper. The final deal size therefore was equal to the base size of...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222