Wilmar’s China unit IPO passes 13.9b yuan mark amid oversubscription of shares, Companies & Markets


Source: businesstimes.com.sg businesstimes.com.sg

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THE long-awaited initial public offering (IPO) of Wilmar International's China unit, Yihai Kerry Arawana (YKA), has successfully raised about 13.93 billion yuan (S$2.81 billion) after the close of applications on Sept 25, said the company in a bourse filing. Wilmar had on Sept 24 said that the listing is expected to raise 13.9 billion yuan, with each YKA share at an issue price of 25.7 yuan. Investors appeared upbeat about the proposed listing of YKA on the Shenzhen Stock Exchange ChiNext Board, resulting in the IPO shares being oversubscribed. IPO shares for offline investors were oversubscribed by 600.5 times, raising...