Meat Producer Japfa Said to Plan $250 Million Singapore OfferingJoyce Koh and Fox Hu
Japfa Ltd., controlled by Indonesia’s Santosa family, plans to raise at least $250 million from an initial public offering in Singapore, said people with knowledge of the matter.
The company is currently gauging investor demand for the share sale and plans to start marketing it this month, said the people, who asked not to be identified as the process is private. Credit Suisse Group AG and DBS Group Holdings Ltd. are managing the offer, they said.
Japfa breeds and processes chicken, pork and beef, according to the people. It also operates dairy farms in China and distributes brands including Greenfields milk in Southeast Asia and Hong Kong, they said.
The company’s Jakarta-listed unit, PT Japfa Comfeed Indonesia Tbk, was established in 1971 and currently has a market value of 13.1 trillion rupiah ($1.1 billion).
Representatives for Japfa didn’t immediately respond to e-mails seeking comment.