KUALA LUMPUR: Farm Price Holdings has obtained approval for its upcoming initial public offering (IPO) on Bursa Malaysia’s ACE Market.
The Johor-based wholesaler and distributor of fresh vegetables and food products said the IPO entails a public issue of 102 million new shares, as well as an offer for sale of 33.0 million existing shares, representing 22.67 per cent and 7.33 per cent respectively of its enlarged issued share capital of 450 million shares.
Managing director Tiong Lee Chian said the company believes that it is timely to offer the public the opportunity to invest in a business that plays a crucial role in ensuring the availability of fresh vegetables in the market.
"This is especially true post-pandemic when the issue of food security becomes increasingly important to all stakeholders, from end consumers to leaders of nations," he said in a statement. - Bernama
