DELFI LIMITED (P34) SGD 0.755 +0.00% +0.00

 

PETRA FOODS LIMITED  LAUNCHES INITIAL PUBLIC OFFERING OF 178.5 MILLION SHARES AT OFFERING PRICE OF S$0.88 PER SHARE AND DISCOUNTED OFFERING PRICE OF S$0.83 PER SHARE  
&bull World&rsquo s leading cocoa ingredients manufacturer and a major player in the branded consumer products in Asia, where it is a market leader in Indonesia &bull Top winner of the 2003 Singapore Enterprise 50 Award &bull Third largest IPO in Singapore this year  &bull IPO to raise approximately S$156 million  
Singapore, 28 October 2004 &ndash Petra Foods Limited (&ldquo Petra Foods&rdquo ), one of the world&rsquo s major cocoa ingredients manufacturers and a major player in the branded consumer products, today announced the launch of the initial public offering (&ldquo IPO&rdquo ) of its shares in connection with a proposed listing on the Mainboard of the Singapore Exchange Securities Trading Limited (&ldquo SGX-ST&rdquo ).   
The offering of 178.5 million shares consists of an institutional placement of 173.5 million shares to investors, including institutional and other investors in Singapore, and an offer of 5.0 million shares to the public in Singapore (the &ldquo Public Offer&rdquo ). The offering price has been set at S$0.88 per share although certain investors including individual investors are entitled to a discount and will pay a discounted offering price of S$0.83 per share. This equates to an estimated offer size of approximately S$156.1 million (excluding the proceeds from the potential exercise of the overallotment option as defined in the Prospectus) making the offer the third largest IPO in Singapore this year.   
Petra Foods plans to issue 113.5 million shares in the offer to raise an estimated amount of approximately S$99.2 million. The proceeds are identified for deployment into capital expenditures for its two business divisions as well as potential strategic investments and working capital/general corporate purposes. Two existing shareholders, McKeeson Holdings Limited and Canzone Limited (the &ldquo Vendors&rdquo ) are offering a total of 65.0 million shares in the offer to raise an estimated amount of approximately S$56.8 million.  
In addition, Petra foods and the Vendors are granting an over-allotment option over a further 26.8 million shares. If exercised, the offer proceeds would increase to a total estimated to approximately S$179.6 million.  
The Offering is open for application at 9 am on 29 October 2004 and closes at 12 noon on 3 November 2004. Trading of Petra Foods&rsquo shares in board lots of 1,000 shares each, is expected to commence on the SGX-ST on 5 November 2004.  
ABN AMRO Rothschild is the global co-ordinator, bookrunner and lead manager of the issue while UOB Asia Limited is the co-ordinator of the Public Offer.   

https://www.ssga.com/sg/en/institutional/etfs/funds/spdr-straits-times-index-etf-es3

 

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