Malaysian forest firm Jawala aims to raise $3.36m in SGX-listing

Malaysia-based sustainable forest resource company Jawala Inc and its subsidiary has launched its initial public offering on the Singapore Exchange Securities Trading Limited, aiming to raise $4.5 million ($3.36 million). According to a media release, the gross proceeds will be used to develop Jawala’s plantation site and for working capital.

Headquartered in Sabah, the company is offering 1.8 million shares at $0.25 ($0.19), representing 15.2 per cent of the group’s post-IPO share capital of 118.47 million shares.