Business Times cited Bionas Group Chief Executive Safi’e Jaffri as saying the firm’s unit would list on the London’s Alternative Investment Market (AIM) by the middle of this year and Barclays Bank was handling the IPO.
“The money will be mainly used to expand jatropha plantings in Africa,” Safi’e was quoted as saying.
Jatropha has been widely regarded as a wonder plant whose cultivation on non-arable land in Africa, Asia and Latin America could provide biofuels without using farmland.
Its appeal has grown just as Brent crude oil goes above US$100 (RM304) a barrel although some industry officials say the plant depends on a lot of chemical additives and fertile soils to grow.
Bionas Group, which is unlisted, was not immediately available for comment.
Bionas Group started jatropha contract farming in Borneo three years ago.
To use up its jatropha production, the firm started its own airline company to ferry Muslim pilgrims from Asia to the annual Haj pilgrimage in Saudi Arabia. — Reuters
