Japfa says it is not “appropriate” to comment on the Bloomberg article dated March 8, where it says that Japfa UD2 ’s owners were mulling taking the Singapore-listed company private.
According to the article, the company has held discussions with several banks and with at least one private credit fund for a loan of US$150 million ($199.6 million).
In a March 11 filing, Japfa’s board said that its key shareholders, Renaldo Santosa and family are “aware” of the article and that they are approached by several people including financiers and investment banks to consider a “wide variety” of transactions in the public debt and equity markets.
“As a matter of practice, the family typically assess all such proposals. As a result, the family are regularly engaged in exploratory discussions regarding various corporate actions, including ones both similar and different to what is currently being reported on,” reads the statement by Japfa. “The Board has been informed by Mr Santosa that if at any point in time should any of the discussions become definitive the family will make all relevant announcements as required under applicable law.”
Shares in Japfa closed 8.0% higher at 21.5 cents on March 8.
