KUALA LUMPUR, May 27 – Johor Plantations Group Berhad (JPG), a prominent Johor-based oil palm plantation company, has signed a retail underwriting agreement with RHB Investment Bank Berhad, AmInvestment Bank Berhad, CIMB Investment Bank Berhad, and Affin Hwang Investment Bank Berhad for its forthcoming initial public offering (IPO). The IPO, scheduled for the third quarter of 2024, aims to list JPG on the Main Market of Bursa Malaysia Securities Berhad. This IPO will involve a public issue of 464 million new shares and an offer for sale of up to 411 million existing shares, targeting both institutional and retail investors.
The agreement was formalized at a signing ceremony attended by key executives, including JPG’s Managing Director Mohd Faris Adli Shukery, who emphasized the company’s operational efficiency and future plans to expand into downstream segments, enhancing the marketability and profitability of its palm oil products. Representatives from the participating banks expressed confidence in JPG’s strong track record and sustainability practices, foreseeing significant growth and success for the company in its next phase of development.
