Debutante Japfa rises 0.05% in SGX IPO

Investors are coming in at great speed.

Indonesian food producer Japfa began trading on the SGX at $0.84, up 5% from its initial public offering price of $0.80, according to Reuters.

Japfa runs meat processing, aquaculture and animal feed manufacturing facilities in Indonesia, Vietnam, China, Myanmar and India.

A release by SGX indicates that Japfa’s IPO has 248,000,000 shares and is subject to an Over-allotment Option1. It comprised an International Offer2 of 231,200,000 Offering Shares and a Singapore Public Offer of 16,800,000 Offering Shares.

Here’s more from SGX:

In addition, the International Offer received robust demand from institutional and other investors. The aggregate indications of interest received at the end of the book-building exercise were for approximately 1.1 billion Offering Shares, which represents approximately 5.1 times of the 208,700,000 Offering Shares available under the International Offer (excluding the Reserved Shares).

Based on the 248,000,000 Offering Shares under the Offering (assuming the Over-allotment Option is not exercised), the aggregate indications of interest received for the International Offer as at the close of the book-building exercise and the valid applications received for the Reserved Shares and under the Singapore Public Offer as at the close of the Singapore Public Offer, the Offering is approximately 5.0 times subscribed.

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