Indofood raises buyout offer price for IndoAgri to 32.75 Singapore cents

This represents 26% premium to palm oil firm's share price of S$0.26 on April 5

Sharanya Pillai

Published Sun, Jun 2, 2019 · 09:50 PM

Singapore

INSTANT noodle heavyweight Indofood Sukses Makmur has raised its buyout offer price for Mainboard-listed Indofood Agri Resources (IndoAgri) to 32.75 Singapore cents per share, from 27.75 Singapore cents previously, according to a bourse filing by IndoAgri on June 2.

On May 31, CIMB had also announced the offer price revision for the palm oil firm in a Singapore Exchange filing on behalf of the offeror. Indofood does not intend to revise the final offer price.

The new offer price represents a 26 per cent premium to IndoAgri's share price of 26 Singapore cents on April 5, and a 42.1 per cent premium to its VWAP (volume-weighted average price) of 23.04 cents…

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