Boom-itama!!!… IPO debut reinforces Singapore as a leading international capital raising destination
Following its debut on Thursday 12th April, shares of palm oil firm Bumitama Agri surged as much as 37% as Investors clambered for a piece of the largest IPO since June 2011.
A total of 327,324,000 shares (comprising 297,570,000 shares and an additional 29,754,000 in the over-allotment option) was issued during listing. During the book building phase, it was reported that the IPO was 31 times oversubscribed, the highest of any IPO in Singapore since 2007.
SGX Chief Executive, Magnus Bocker, stated that the IPO reinforced the strength and depth of Singapore as a leading international capital raising destination in the region; but it also confirms the continued and growing appetite of Asian investors into agriculture businesses.
Bumitama is just one of the many global agribusinesses seeking investment in growing their business globally. The 2nd annual Agriculture Investment Summit Asia, taking place in October in Singapore, is a platform for global and Asian agribusinesses, investors and F&B companies to both explore and access investment and strategic partnership opportunities across Asia and globally.
To find out more about this year’s Agriculture Investment Summit Asia, visit our website at http://www.terrapinn.com/conference/agriculture-investment-summit-asia/index.stm
