Indonesian palm oil firm Bumitama Agri plans to raise up to $244 million through an initial public offering in Singapore after pricing its shares at the top of an indicative range.
Singapore has seen a string of IPOs returning to the market this year, as Asian shares have rallied on signs of an improving global economy.
Bumitama said it plans to sell a total of 327.4 million shares, including an over-allotment option, at $0.745 each, the prospectus said. Last month, the company had set an indicative price range of $0.675 to $0.745, a source said.
The company will list its shares on April 12.
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