AustAsia Group's offer shares priced at HK$6.40, valuing Japfa's interest at 23 cents per share

Based on the offer price, the value of Japfa’s interest in AustAsia is at 23 cents per share.

The value of Japfa’s stake in its Indonesian-listed subsidiary, PT Japfa Tbk, is valued at 36 cents per share, based on PT Japfa Tbk’s closing price of IDR1,310 (11.36 cents) as at Dec 21.

“Together with the proposed listing, the proposed distribution is expected to unlock shareholder value as it creates a clearer investment proposition of the two business groups with listed market values which can be separately evaluated on their strategy, merits and risks,” says Japfa in its Dec 22 filing.

Shares in Japfa closed 1.5 cents higher or 2.78% up at 55.5 cents on Dec 21.

See also: Vehicle-leasing firm Skylink Apac poised for listed status with Sincap RTO

See also:

• Japfa's AustAsia to launch IPO on Dec 15
• Japfa's China-focused milk business to split off for own listing in Hong Kong