Investors jump on board $571.1m Sime placement

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By John Loh
05 Oct 2016

Malaysian conglomerate Sime Darby was inundated with orders for its MR2.4bn ($571.1m) overnight share sale this week, making the tightly executed block southeast Asia’s largest follow-on in a year.

The group, with operations ranging from property to plantations, launched a deal for 316.35m primary shares, or 5% of its share capital, on Tuesday. The price range was MR7.40-MR7.45 a share, or a 2.1%-2.8% discount to Sime’s pre-deal spot of MR7.61.

The fundraising, announced in August, came ...

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