Johor Plantations rises 10% in biggest Malaysian debut in 2 years

Johor state-linked palm oil company raised $156m through IPO

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Johor Plantations Group is linked to the government of Johor, the southernmost state in Peninsular Malaysia. (Johor Plantations Group)

NORMAN GOH, Nikkei staff writer

KUALA LUMPUR -- Johor Plantations Group debuted Tuesday on Malaysia's main stock exchange, rising over 10% from the initial public offering price of 0.84 ringgit per share.

The first quotation for the company's shares at Bursa Malaysia was flat at 0.84. The price then started rising, and went up 10.7% to 0.93 at one point.

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