Sabah logger Jawala taps Catalist IPO at more than 40 times historical earnings

Jeffrey Tan
Jeffrey Tan5/28/2018 08:00 AM GMT+08  • 4 min read
Sabah logger Jawala taps Catalist IPO at more than 40 times historical earnings
SINGAPORE (May 28): Timber company Jawala is set for a listing on the Catalist board of the Singapore Exchange on June 1. Jema Khan, executive director and CEO of Jawala, sees a Singapore listing as a way for the company to gain access to the internationa
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 28): Timber company Jawala is set for a listing on the Catalist board of the Singapore Exchange on June 1. Jema Khan, executive director and CEO of Jawala, sees a Singapore listing as a way for the company to gain access to the international market for growth. “We are a small company, but growing fast,” he says. “We feel SGX is a platform to raise funds and move forward at a faster pace than if we remained private. Catalist was the easier option [than Malaysia]. You can take growth companies [to be listed] quite quickly here.”

The company is offering 17.6 million new shares via a placement to institutional investors, and 400,000 new shares to the public. Altogether, these represent 15.2% of the company’s issued share capital of 118.5 million shares. At 25 cents a share, the IPO is valued at more than 40 times FY2017 earnings. The company’s IPO is expected to raise net proceeds of $3.15 million, which will go towards the development of its existing plantation.

Jawala was incorporated last August as a holding company. It owns 70% of forest management and timber company Jawala Plantation Industries. The remaining 30% stake in JPI is owned by Jawala Corp, a sawn timber company controlled by Khan and his father, Abdul Majid Khan, executive chairman of Jaycorp, a rubber wood and furniture company listed on Bursa Malaysia.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now