Japfa's IPO draws strong demand

JAPFA'S initial public offering, comprising an international offer of 231.2 million shares and a public offer of 16.8 million shares, priced at S$0.80 per share, attracted strong investor demand.

The public offer was about 9.7 times subscribed while the international offer was about 5.1 times subscribed. The joint global coordinators, joint issue managers, joint book runners and underwriters have fully over-allotted 37.2 million shares to the international offer. Japfa's shares are to commence trading today.