The oil palm plantation company will be the first Indonesian issuer of size to complete an IPO for more than a year and the first in 2009 to have marketed its offering to international investors.
The convertible is well-received by both outright investors and hedge funds despite coming on the back of a near 300% gain in First Resources' share price since the March lows.
The Indonesian-based palm oil producer prices shares close to top end of the price range after playing into investor demand for alternative energy assets.