Farm Fresh eyes RM1bil proceeds, RM2.5bil market cap on listing

From left: Maybank Investment Bank Bhd CEO Datuk Fad’l Mohamed, Farm Fresh Bhd independent non-executive chairman Tan Sri Megat Najmuddin Megat Khas, Farm Fresh Bhd non-independent executive director, group managing director and group chief executive officer Loi Tuan Ee, CIMB Investment Bank Bhd CEO Jefferi Hashim and Credit Suisse Securities (Malaysia) Sdn Bhd director and co-head of Malaysia investment banking & capital markets Lee Han Ping.

KUALA LUMPUR: Malaysian dairy company Farm Fresh Bhd is eyeing proceeds of RM1 billion and a market capitalisation of RM2.5 billion upon its listing on Bursa Malaysia's Main Market based on its initial retail price of RM1.35 per share.

Proceeds to the company of about RM301.0 million will be utilised to establish a new manufacturing hub, dairy farm and integrated processing facility in Malaysia, expansion of a production facility in Australia, regional expansion outside Malaysia and for working capital together with listing expenses.