Indofood Agri Unit PT SIMP Plans USD629 Mln IPO

SINGAPORE, KOMPAS.com - PT Salim Ivomas Pratama Tbk, a unit of Indofood Agri Resources Ltd., is seeking to raise as much as IDR5.37 trillion (US$629 million) in an initial public offering that, if successful, will be Indonesia's biggest share sale this year.

PT SIMP plans to sell 3.16 billion new shares at an indicative price range of IDR1,060 to IDR1,700 in the proposed IPO, to be launched in the second quarter of this year, its Singapore-listed parent company said Tuesday.

The shares have a par value of IDR200 per unit and represent up to 20% of the post-IPO capital of the company, Indofood said in a statement to the Singapore Exchange. Indofood, which entered a trading halt Tuesday morning, requested its shares resume trading at 0600 GMT.