KUALA LUMPUR: Poultry producer and distributor Farmiera Bhd has inked an underwriting agreement with Malacca Securities Sdn Bhd for its initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia.
Malacca Securities will be the principal adviser, sponsor, underwriter and placement agent.
The company said in a statement today that the IPO comprises a public issue of 117 million new ordinary shares, representing 26% of its enlarged issued share capital.
The shares will be allocated as follows: 22.50 million shares for application by the Malaysian public; nine million shares for eligible key senior management and employees; and 29.25 million shares by way of private placement to selected investors.
Another 56.25 million shares will be allocated to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
“In appreciation of the trust and support we have received, we will continue to grow the group and advance sustainable production through construction of our parent stock farms and hatchery,” said Farmiera managing director and CEO Hong How Seng.
Farmiera and its subsidiaries are primarily engaged in poultry farming and processing activities, including the supply of live broilers as well as the processing and distribution of halal-certified raw poultry products.
The group currently operates 15 company-owned broiler farms, engages 44 contract farms across Selangor, Negeri Sembilan, Perak, Pahang and Malacca, and runs two halal-certified processing plants. – Bernama
