The wealthy placement investors reflect ConscienceFood CEO Mr Djoesianto Law's strong connections in the Indonesian business world. Photo by Leong Chan Teik

THE IPO of Indonesian instant noodle maker, Consciencefood, at 22 cents closed with a bang on Tue, with wealthy Indonesian investors hungry for a stake.

The retail tranche of 2 million shares was 119 times oversubscribed at the close of the application list on Tue 3 Aug at noon.

Towards the end of last week, wealthy Indonesians had emerged as anchor investors to over half of its placement tranche.

Here’s the list of who’s who in Consciencefood’s placement tranche:

1) Rosa Taniasuri Ong took 19.5 million placement shares.  She is the wife of Indonesian self-made billionaire Martua Sitorus, who co-founded palm oil giant Wilmar.

2) Eka Tjandranegara took 9.75 million shares. He founded the Mulia Group and is a multi-millionaire on the Forbes list of Indonesia’s richest.

3) Edy Sugianto took 9.75 million shares.  He owns the coal mining company Mandiri Inti Perkasa.

4) IPC Corp took 10 million shares.

5) Kee Sue Hwa took 9.5 million shares.  She is married to IPC boss Patrick Ngiam.

These 4 individuals and IPC took 57% in total of the placement tranche of 101.996 million shares.

Related story: CONSCIENCEFOOD: Indon noodle maker IPO at 22cts closes next Wed

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