Sole Broker appointment to REA Holdings
Panmure Gordon is delighted to announce that it has been appointed as Sole Broker to REA Holdings (RE.L) on Wednesday 12th January 2022.
REA Holdings focuses on the cultivation of oil palms in East Kalimantan, Indonesia and the production and sale of crude palm oil and crude palm kernel oil. It is listed on the premium segment of the Main Market and has a market cap of ~£66m. Major Institutional shareholders include M+G, Odey and Aberforth.
The group holds 75,000 hectares of agricultural land in East Kalimantan of which 64,000 hectares are fully titled. The areas planted with oil palms amount to 36,000 hectares of which 35,000 hectares are mature. c.20,000 hectares are designated as conservation reserves. The group also has interests in stone deposits and 2 coal mining concessions in the same area. The share price has been climbing over the past few months off the back of improved trading and a debt re financing which took place in November 2021.