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Singapore – ATMD Bird & Bird Acted For JB Foods Limited In Its IPO On the Main Board Of the SGX-ST.

31 July, 2012

 

Legal News & Analysis – Asia Pacific – Singapore  Capital Markets

 

ATMD Bird & Bird LLP acted as solicitors to the Invitation and legal counsel on Singapore law to JB Foods Limited, one of the major cocoa ingredient producers in Malaysia, in its initial public offering of 1,000,000 shares (comprising 97,000,000 new shares and 3,000,000 vendor shares) on the Main Board of the Singapore Exchange Securities Trading Limited, at $0.30 per share. The IPO is expected to raise a total of S$30,000,000. JB Foods Limited is a Singapore incorporated company which operates primarily through its Malaysia-based subsidiary, JB Cocoa Sdn Bhd, which principal activities comprise the production and sale of cocoa ingredient products, namely, cocoa butter, cocoa powder, cocoa liquor and cocoa cake. Their customers include Theobroma B.V., ADM Cocoa, General Cocoa Company Inc., Transmar Commodity Group Ltd., Olam Europe Limited, ECOM Group, and Nestle Philippines, INC. The issue managers and joint underwriters
and placement agents are AmFraser Securities Pte Ltd and Canaccord Genuity Singapore Pte. Ltd. Trading of the shares of JB Foods Limited commenced on 23 July 2012. The team was led by partner, Marcus Chow, assisted by associates, Valerie Komaran and Jolie Giouw.

 

For further information, please contact: 

 

Audrey Goh, ATMD Bird & Bird
 

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