The plantation company said the IPO involves up to 875 million ordinary shares, including an offer to sell up to 411 million existing ordinary shares and a public issue of 464 million new ordinary shares at the final retail price of RM0.84 per IPO share.

“The institutional offering consists of up to 797.5 million shares for Malaysian and foreign institutional and selected investors, and a retail offering of 77.5 million shares for eligible directors, employees, and persons who have contributed to the success of JPG and its subsidiaries,” the company said in a statement.

For the Bumiputera portion, a total of 3,184 applications for 39.28 million shares were received, representing an oversubscription rate of 0.57 times while for the non-Bumiputera portion, 6,371 applications for 119.73 million shares were received, representing an oversubscription rate of 3.79 times.

“In addition, the 27.5 million shares made available for application by eligible directors, employees, and persons who have contributed to the success of the group have been fully subscribed.

“For the institutional offering, the 312.5 million shares offered to Bumiputera investors approved by the investment, trade and industry ministry, as well as 485 million shares offered to Malaysian and foreign institutional and selected investors under the institutional offering, have been fully placed out,” it said.

JPG is expected to be listed on the Main Market of Bursa Malaysia on July 9, with an anticipated market capitalisation of RM2.1 billion upon listing.

It said RHB Investment Bank Bhd is the principal adviser, joint global coordinator, joint bookrunner, managing underwriter, and joint underwriter for this IPO.

“The notices of allotment will be mailed to all successful applicants by July 4,” it added.