Golden Plantation Sets IPO for December

Bareksa.com - Quoted from IQ Plus, Golden Plantation, the palm oil unit of Tiga Pilar Sejahtera Food, or TPS, plans to raise as much as Rp 500 billion ($42 million) from selling shares in an initial public offering later this year.

Before the IPO in December, TPS Food will merge its other palm oil unit, Bumiraya Investindo, into Golden Plantation, by relocating all of Bumiraya Investindo’s assets to Golden Plantation.

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