Johor Plantations IPO oversubscribed

KUALA LUMPUR: The public portion of Johor Plantations Group Bhd’s initial public offering (IPO), comprising 50 million IPO shares, has been oversubscribed by 2.18 times.

In a statement, the issuing house noted that a total of 9,555 applications were made for 159.01 million IPO shares, representing more than twice the number of allotted shares for the Malaysian public.