Farm Fresh jumps 26% on debut

KUALA LUMPUR: Farm Fresh Bhd opened at RM1.70 this morning with an opening volume of 27.2 million shares.

This is an almost 26% premium over its initial public offering (IPO) reference price of RM1.35.

The listing with a market capitalization of RM2.5bil is the largest IPO on the Bursa Malaysia since June 2021 with its main backer being Khazanah Nasional Bhd.

“We are very proud and pleased with the opening price - we are very excited for what’s ahead.

"The key here is that with the kind of market expectations and endorsements it is important that our team continues to work hard to ensure that the confidence in us will not be misplaced,” its group managing director and group chief executive officer Loi Tuan Ee told a press conference.

Loi said that he wants to ensure that investments made by its shareholders into the company must be a “rewarding experience.”