KUALA LUMPUR: MKH Oil Palm (East Kalimantan) Bhd (MKHOP) is set to raise RM136.4mil from its initial public offering (IPO), en route to a listing on the Main Market of Bursa Malaysia on April 30, 2024.

In a statement, the plantations firm said RM42mil of the IPO proceeds wll be used to acquire lands for oil palm plantation within the East Kalimantan province while RM9mil will be allocated for the setting up of a palm kernel crushing facility to provide the group with an additional income stream.