KUALA LUMPUR (April 12) : IOI Corp Bhd’s 30.4% associate Bumitama Agri Ltd rose as much as 36% on the PLANTATION [] firm’s debut on the Singapore bourse on Thursday.
Bumitama shares added 27 cents to an intraday high of S$1.02 before trading lower at 98 cents at noon for a market capitalisation S$1.72 billion (RM4.21 billion). At 30.4%, IOI’s stake in Bumitama is worth S$523 million.
For comparison IOI shares declined three sen to RM5.37 on the Malaysian bourse during lunch break for a market value of RM34.5 billion.
The Hongkong and Shanghai Banking Corp Ltd and DBS Bank Ltd are joint managers, bookrunners, and underwriters for Bumitama’s initial public offering.
Bumitama shares added 27 cents to an intraday high of S$1.02 before trading lower at 98 cents at noon for a market capitalisation S$1.72 billion (RM4.21 billion). At 30.4%, IOI’s stake in Bumitama is worth S$523 million.
For comparison IOI shares declined three sen to RM5.37 on the Malaysian bourse during lunch break for a market value of RM34.5 billion.
The Hongkong and Shanghai Banking Corp Ltd and DBS Bank Ltd are joint managers, bookrunners, and underwriters for Bumitama’s initial public offering.
