Japfa Limited offers to buy back 9% of shares in an off-market deal

It plans to repurchase the shares for $0.355 each.

Mainboard-listed Japfa Limited has offered to repurchase 183.3 million or 9% of its shares at $0.355 each.

The agri-food company will conduct an off-market purchase under an equal access scheme to buy back its shares.

The offer price is 6.0% above the last traded price on the SGX-ST on 19 August 2024.

The price is also 8.6%, 17.5%, 22.4%, and 27.7% higher than the volume-weighted average price (VWAP) for the three-, six-, nine-, and twelve-month periods leading up to 19 August, the last trading date before the buyback announcement.

If the company purchases the maximum number of shares allowed under the Equal Access Offer, it will pay $65.1m

The company will fund the purchase through internal resources or external borrowings, or a combination of both.