Hot stock: Japfa surges 16 per cent to S$0.615 after news of S$0.62 privatisation offer

Japfa announced on Friday that members of its founding family were making a joint offer to acquire around 18.3 per cent of the company’s total issued shares

SHARES of agri-food company Japfa were up 15 per cent on Monday (Jan 27) after news broke on Friday that family members of its founder have offered to take the company private at an offer price of S$0.62 apiece.

It soared S$0.085 or 16 per cent to S$0.615 in early trade at 9 am when the market opened, above its previous closing price of S$0.53 on Friday.

It later eased to S$0.61 at 9.39 am, 15.1 per cent or S$0.08 above Friday’s closing price, with 3.1 million shares changing hands.

On Friday, Japfa announced in a bourse filing that Renaldo and Gabriella Santosa, as well as Rachel Anastasia Kolonas, were making a joint offer to acquire around 18.3 per cent of the company’s total issued shares.

The two Santosas, who are siblings, are children of the late Handojo Santosa – Japfa’s former executive chairman and son of the company’s founder, the late Ferry Teguh Santosa. Kolonas is the daughter of Japfa’s non-executive director Hendrick Kolonas, who is the uncle of the two Santosa siblings.

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