PETALING JAYA: Camaroe Bhd
is seeking to list on the ACE Market of Bursa Malaysia, according to its draft prospectus. Camaroe is principally involved in the farming and processing of prawns.
In its draft prospectus, the company said it intends to utilise proceeds from its initial public offering (IPO) for capacity expansion, namely the construction of a new Bukit Raja processing facility; purchase of machinery and equipment; installation of solar panels; establishment of a biotechnology department; as well as for general working capital.
Camaroe’s IPO will entail a public issue of 99 million new ordinary shares.
Of this, 24.75 million new shares will be made available for application by the Malaysian public; while 12.38 million new shares made available for application by eligible directors, employees and persons who have contributed to the group’s success.
