Indofood Agri    Last:0.325    +0.01

Indofood Agri Resources

Quote: Originally Posted by Wee153 POSITIVE NEWS... MONITORING UPSIDE TILL FRI .... Current SUPPORT at 1.23 might be breached at closing...

 

NDO AGRI 1.22 GOOD BUY Quote: Originally Posted by Wee153 POSITIVE NEWS... MONITORING UPSIDE TILL FRI .... INDO AGRI AT 1.22 SHOWS A SIGN OF GOOD ACCUMULATON PROCESS .. BY FRI PRICE SHOULD GO UP >1.25 DUE TO EDGE ARTICLE

 

iNDOFOOD aGRI DOUBLES OUTPUT

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iNDOFOOD aGRI DOUBLES OUTPUT Quote: Originally Posted by Yenrk Will see interesting play in IndoFood Agri on monday.... Get ready to cheong liao..... q

 

Quote from the EDGE 25th JUNE :

Indofood Agri DOUBLES output with LONDON Sumatra as palm oil rallies 

 

The Target Group?s principal activities span from research & development,   oil palm seed breeding, oil palm cultivation and milling to the refining, branding and marketing of cooking oil, margarine, shortening and other palm oil derivative products. It has significant market share and leading brands in cooking oils, margarine and shortening. It is also a producer of Crude Coconut Oil (CNO) in Indonesia.

 

The company has an aggressive expansion plan which includes quadrupling size of the planted area to 224,000 ha by 2015. At the moment, most of the landbank is unplanted. From the seed planting, it takes about 4 years to bear fruit.

Currently, the planted area is 63,552 ha and unplanted area is 139,898 ha. Annual refinery capacity is 885,000 tons.

 

Aie... that's sad..

So for peeps like me who're stuck at 0.33

All will be in deep red...?

Any hope?

 

Confirming a Reuters report, the company said in a statement that the share placement was priced at $1.25 a unit. The shares represent 25% of the firm's enlarged share capital.



The placement was needed to fulfil free float requirements of the stock exchange after Indofood Sukses Makmur injected its edible oils and fats refining business into ISG Asia and renamed the group Indofood Agri Resources.



Indofood is controlled by the Salim family, which had close links to Indonesia's former President Suharto. The Salim group was forced to sell off many of its assets after the Asian financial crisis, but kept control of Indofood.

 

Indofood Agri Resources, formerly CityAxis and a palm oil unit of Indonesian food giant Indofood Sukses Makumr Tbk , was expected later on Wednesday to price its $422.5 million IPO at the top of an indicative range, a source close to the deal said on Wednesday.



The company was poised to sell 338 million shares at $1.25 apiece, versus the indicative range of between $0.90 and $1.25. The institutional order book was more than 20x covered, the source said.



CIMB, Credit Suisse and Kim Eng are the underwriters of the offering.