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Johor Plantations Group jumps 7% in Malaysia’s largest IPO debut since 2022

At the closing price of 90 sen a share, the palm oil producer’s market capitalisation is RM2.3 billion

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Tan Ai Leng

Tan Ai Leng

Published Tue, Jul 9, 2024 · 01:19 PM
    • Johor Plantations Group plans to use the proceeds to build a renewable-powered palm oil complex, and for tree replanting and debt repayment.
    • Johor Plantations Group plans to use the proceeds to build a renewable-powered palm oil complex, and for tree replanting and debt repayment. PHOTO: JOHOR PLANTATIONS GROUP

    [KUALA LUMPUR] Malaysian palm oil producer Johor Plantations Group made its debut on Bursa Malaysia’s main stock exchange on Tuesday (Jul 9), with its share price rising 7 per cent from the initial public offering (IPO) of 84 sen per share.

    Shares in Johor Plantations Group opened flat at 84 sen, but quickly climbed 10.7 per cent to 93 sen within the first hour of trading.

    At the market close, it ended 7 per cent higher at 90 sen, with over 178 million shares changing hands.

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    Palm oilMalaysiaAgriculture/FarmingAseanAsean BusinessIPO

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