Jawala IPO’s public tranche 18.5 times subscribed

THE initial public offering of Malaysian timber company Jawala closed with its public offer tranche subscribed 18.5 times.

Jawala, which will make its trading debut on the Singapore Exchange’s Catalist board at 2pm on Friday, June 1, said that the 400,000 shares it offered for public subscription at 25 Singapore cents apiece drew valid applications for 7.4 million shares.