08 Oct 2014

Initial Public Offering of Japfa Ltd

Rajah & Tann Singapore LLP ("R&T Singapore") was the legal adviser to Japfa Ltd (the "Company") as to Singapore law in respect of its initial public offering and listing on the Main Board of the SGX-ST. The Company offered 248,000,000 shares in an international offering and under a Singapore public offer. The market capitalisation of the Company at listing (based on the offering price) was S$1.38 billion. Credit Suisse (Singapore) Limited and DBS Bank Ltd were the Joint Global Coordinators, Joint Issue Managers and Joint Bookrunners and Underwriters. Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (trading as Rabobank International) was the Co-Lead Manager. The Company has also granted an over-allotment option to Credit Suisse to purchase up to 37,200,000 additional shares, which was exercised in full.

Headquartered in Singapore, Japfa Ltd produces multiple protein foods, with an emphasis on milk, poultry and beef, complemented by growing businesses in swine and aquaculture. It has operations in five high-growth emerging Asian markets, namely China, Indonesia, Vietnam, Myanmar and India. The Company is the first industrialised agri-food company focused on protein foods to list in Singapore.

Partner Evelyn Wee led the Capital Markets team from R&T Singapore, assisted by partner Teo Yi Jing and lawyers Hoon Chi Tern, Lim Ee Nian, Koh Choon Yee and Esther Cher.

Partners Ahmad Fikri Assegaf and Eri Raffaera Budiarti of Assegaf Hamzah & Partners, assisted by lawyers Christine Tambunan and Angelica Ayu Maharani, advised on the Indonesian Law aspects of the transaction.

Director Chester Toh of Rajah & Tann Myanmar Company Limited, assisted by lawyers Dr Min Thien from Rajah & Tann Myanmar and Daryl Larry Sim from R&T Singapore’s Myanmar Practice, advised the Company on the Myanmar Law aspects of the transaction.