A Hong Kong-based First Pacific Company Limited, parent company of Salim family, plans to subscribe for approximately 17.49 million shares in PT Indofood CBP Sukses Makmur Tbk (ICBP) during the global offering.
In a public announcement published at First Pacific website today, First Pacific proposes to subscribe Rp94.4 billion or US$10.5 million or HK$82 million of Indofood CBP shares.
Indofood CBP Sukses Makmur, producer of instant noodle and foods seasoning, has determined the IPO price at Rp5,395 per share. Referring to the price, Indofood CBP enables to snap up Rp6.31 trillion cash from the primary market.
During IPO, Indofood CBP had offered its stocks at Rp4,300-Rp5,500 per share. "Last night Indofood CBP had decided the IPO price at Rp5,395 per share," a source familiar with the matter told Bisnis this morning.
Indofood CBP Director Werianty Setiawan confirmed that the IPO price is determined at Rp5,395 per share.
"The price reflects good demand from investor dan confidence to Indonesia economy and Indofood CBP performance," she said to Bisnis today.
In the IPO, Indofood CBP will release 1,17 billion shares and assisted by four emission underwriters, i.e. PT Kim Eng Securities, PT Credit Suisse Securities Indonesia, PT Deutsche Securities Indonesia, and PT Mandiri Sekuritas.
The IPO’s offering period is scheduled on September 1-16, effective on 24 September, offering period on 26-30 September, allocation on 4 October, shares distribution electronically on 6 October and the latest shares record in Indonesia Stock Exchange (IDX) on 7 October.
Disclosure: No position at the stock mentioned above.
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