Salim appoints 5 investment banks

PT Salim Ivomas Pratama, a 90%-owned company of Indofood Agri Resources Ltd, has appointed five investment banks as underwriters of Rp1 trillion bonds.

Indofood Agri, listed in SGX, said the underwriters are PT Danareksa Sekuritas, PT CIMB Securities Indonesia, PT Kim Eng Securities, PT Mandiri Sekuritas, and PT OSK Nusadana Securities Indonesia.

Indofood Agri's stock price dropped from S$2.87 in July 2008 to as low as S$0.375 in October 2008 or 86% crash. But since then, with the recovery of CPO prices, the stock regained grounds and closed at S$1.52 today to reflect a 304% gain.

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