Golden Agri-Resources moots share sale worth US$100 mil via India subsidiary's IPO

The Edge Singapore
The Edge Singapore8/8/2021 02:07 PM GMT+08  • 2 min read
Golden Agri-Resources moots share sale worth US$100 mil via India subsidiary's IPO
GAR paid US$17.88 mil for its controlling stake in GEF back in 2014
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Leading palm oil company Golden Agri-Resources plans to sell shares worth some US$100 million ($135 million) in the IPO of a subsidiary in India.

In an Aug 8 announcement, GAR said Gemini Edibles & Fats, its 56.27%-held indirect subsidiary, has on Aug 7 filed a draft prospectus with the National Stock Exchange of India for a proposed listing on the Bombay Stock Exchange.

GEF, described by GAR as one of the leading and fastest-growing edible oils and fats companies in India, plans raise some 25 billion rupees worth of shares, or around US$333 million, via the proposed IPO.

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