News Snapshot:
The long-awaited initial public offering (IPO) of Wilmar International's China unit has raised about 13.93 billion yuan (S$2.8 billion) after the close of applications last Friday, the company announced. Wilmar said last Thursday that the listing of Yihai Kerry Arawana was expected to raise 13.9 billion yuan, with an issue price of 25.7 yuan a share. Investors were upbeat about the proposed listing on the Shenzhen Stock Exchange ChiNext Board. IPO shares for offline investors were oversubscribed by 600.5 times, raising 5.82 billion yuan. Stock for online retail investors was oversubscribed by about 1,750 times, raising 3.9 billion yuan. Strategic...
