JPG to Launch: Predict Opening Day Price Fluctuations
On July 9, 2024, $JPG (5323.MY)$ shares increase by 8.93% from the issue price of RM0.84 to RM0.915 on the first day of trading.
Malaysian Issuing House Sdn Bhd (“MIH”) is pleased to announce that the public issue of 50,000,000 IPO Shares made available for application by the Malaysian public are oversubscribed by 2.18 times.
The proceeds from the Initial Public Offering (IPO) are intended to be used for several key purposes, which are outlined as capital expenditure, repayment of bank borrowings, working capital and estimated listing expenses.
Johor Plantations Berhad is mainly involved in cultivating, harvesting, and processing Fresh Fruit Bunches (FFB) into Crude Palm Oil (CPO) and Palm Kernels (PK). The company's profitability depends on its CPO yield and the Malaysian CPO price, and it is influenced by the overall market dynamics of the Malaysian palm oil and global vegetable oil sector.
source: Announcement
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