Wilmar unit aims to raise US$2bil in IPO


  • Corporate News
  • Friday, 25 Sep 2020

Singapore sovereign wealth fund GIC, China Life Insurance Co Ltd, China Structural Reform Fund and Rongze Investment Company were among the 20 strategic investors. (File pic shows Willmar Arawana cooking oil)

SINGAPORE: Singapore agribusiness Wilmar International said its China business, Yihai Kerry Arawana (YKA), was set to raise 13.9 billion yuan (US$2.06bil) in its proposed initial pubic offering (IPO).

The issue price for the proposed listing was set at 25.70 yuan per YKA share.

Strategic investors, comprising state-owned funds, sovereign wealth funds and insurance companies, have been allocated 30% of the IPO shares.

Singapore sovereign wealth fund GIC, China Life Insurance Co Ltd, China Structural Reform Fund and Rongze Investment Company were among the 20 strategic investors. — Reuters

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