Linklaters advises on Johor Plantations Group’s landmark IPO, the largest in Malaysia in two years

Linklaters acted as international counsel to the syndicate of banks, led by RHB Investment Bank Berhad, on the initial public offering (IPO) of Johor Plantations Group Berhad (JPG) on the Main Market of Bursa Malaysia Securities Berhad. This IPO, which successfully raised 735 million ringgit, marks the largest IPO in Malaysia since 2022.

JPG, a leading Malaysian upstream palm oil producer, issued 835 million shares, representing a 35% stake in the company. A portion of the proceeds will be used to develop an integrated sustainable palm oil complex, as well as to support replanting activities, in line with JPG’s sustainability practices and goals. 

The IPO attracted substantial interest from a diverse investor base, including sovereign wealth funds, insurance companies, and local and international institutional investors, reflecting strong market confidence in JPG’s strategic vision and commitment to sustainability.
This transaction was supported by a consortium of global and domestic financial institutions, ensuring extensive market reach and adherence to both international (including U.S.) and Malaysian securities regulations.
 
The Linklaters team was led by Head of South and Southeast Asia Capital Markets Amit Singh, with support from counsel Joseph Wolpin.

Capital markets partner Amit Singh commented:

“Huge congratulations to all parties involved in this highly successful IPO, which not only represents a significant milestone but also highlights the strong interest in sustainable and ethically-focused businesses within the Southeast Asian capital markets. We are grateful for the trust our clients placed in us and we look forward to continuing to support our clients’ strategic growth plans in future.”

With one of the largest teams of any firm focused on Southeast Asia and India, Linklaters continues to strengthen its presence in the region, offering deep expertise and insight into equity capital markets. We have reinforced our reputation as a leader in facilitating major transactions across diverse sectors, including in high-profile IPOs in India, Thailand, Malaysia and Indonesia.