Food and beverage producer Indofood Sukses Makmur (INDF) offered to acquire the remaining Singapore’ Indofood Agri Resources Ltd. shares worth of US$289.23 million or US$0.20 per share, it said in a filing to SGX on Wednesday (April 10). At present, there are at least 90% of Indofood Agri’ shares circulating on the SGX.
In its statement, the Salim Group subsidiary said that the purpose of the offer was to delisted Indofood Agri from SGX. With that, flexibility occurs in implementing strategic initiatives and changes in company operations.
Behind the issuer’ plan to buy the shares of a private entity, the financial performance was actually not as high as last year, which made investors busy releasing the shares of Indofood CBP Sukses Makmur (ICBP). Up to the closing of the stock trading at the end of March, INDF shares fell 5.07% to the level of Rp6,550 a share.
