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Sime Darby raises $570 million by privately placing shares

KUALA LUMPUR (NewsRise) - Sime Darby, the world's largest palm oil producer by acreage, said Wednesday it has raised 2.36 billion ringgit ($570 million) in what would be the largest primary share placement in Southeast Asia in almost three years.

Sime Darby's placement of shares attracted orders from institutional investors totaling more than 6.2 billion ringgit, the company said in a statement. The deal, involving 316.4 million new shares, were priced at 7.45 ringgit apiece, a 3.0% discount to the five-day volume weighted average of 7.68 ringgit.

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