SG briefs: Adani Wilmar IPO, GEAR

Palm tree at plantation in Sumatra, IndonesiaPalm tree at plantation in Sumatra, Indonesia

Singapore company briefs: Adani Wilmar IPO and Golden Energy and Resources (GEAR).

Adani Wilmar and Wilmar

The initial public offering (IPO) of Adani Wilmar, a 50:50 joint venture between Wilmar International and Adani Group, has a price band of 218 rupees to 230 rupees a share, Wilmar said in a filing to SGX Saturday. 

The bid lot for the issue was finalised at 65 equity shares, and in multiples of 65 thereafter, the filing said.

Read more: Adani Wilmar IPO set to open for subscription

Golden Energy and Resources (GEAR)

Golden Energy and Resources (GEAR) said Friday that five subsidiaries of its subsidiary, PT Golden Energy Mines (GEMS), are on the list from Indonesia’s Ministry of Energy and Mineral Resources (ESDM) of companies permitted to resume exporting coal as they had complied with their domestic market obligations for 2021. 

That included PT Borneo Indobara, a subsidiary which produces more than 80 percent of GEMS’ coal, the filing said. 

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