Home THE DAILY EDGE Business First Resources shareholder to sell up to $139.5m in shares
First Resources shareholder to sell up to $139.5m in shares

Tags: Citigroup | Eight Capital | First Resources

Written by Reuters   
Wednesday, 19 January 2011 17:58
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Singapore-listed palm oil firm First Resources’ (FRLD.SI) main shareholder plans to raise as much as $139.5 million through a share placement, according to a term sheet seen by Reuters.
 
Eight Capital, which owns 74% of First Resources, is selling 90 million secondary and treasury shares at $1.48 to $1.55 each, which represents a discount of 3.7 to 8.1% to its closing price of $1.61 on Wednesday.
 
Eight Capital’s stake in First Resources will fall to 68.2% after the planned sale.
 
Citigroup is the sole bookrunner for the placement.
 
 

 

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First Resources shareholder to sell up to $139.5m in shares
Wednesday, 19 January 2011

Last Updated on Wednesday, 19 January 2011 18:00