From left: Lee Yoke Wah, associate director of corporate finance, M & A Securities; Low Saw Cheng, executive director, Camaroe; Teoh Han Boon, managing director; Datuk Bill Tan, managing director of M & A Securities; and Danny Wong, deputy head of corporate finance
KUALA LUMPUR: Integrated aquaculture group Camaroe Bhd
aims to raise RM13.86 million from its initial public offering (IPO), ahead of its planned listing on the ACE Market of Bursa Malaysia Securities Bhd on Oct 2, 2025.
The IPO entails the issuance of 99 million new shares at an issue price of 14 sen per share.
Of the total proceeds, RM6.89 million will be allocated for the construction of a new processing facility in Bukit Raja, RM730,000 for the purchase of machinery and equipment, RM390,000 for the installation of solar panels, RM1 million for the establishment of a biotechnology department, RM960,000 for working capital, and RM3.9 million for listing-related expenses.
Managing director Teoh Han Boon said the new facility is expected to be operational by the first quarter of 2029 (1Q 2029).
"The developer will hand over the land in early 2026, and after approvals and construction, we expect to utilise the facility by 1Q 2029,” he told a press conference after the company’s prospectus launch here, today.
On market contribution, Teoh said China remains the company’s main export destination, followed by South Korea and Taiwan.
"Our export to China accounts for 50 to 60 per cent of revenue, Malaysia contributes about 10 to 15 per cent, and the rest comes from South Korea and Taiwan,” he said.
When asked about plans to expand beyond Asia Pacific, he said Camaroe may re-enter the Australian market, where it last exported in 2021, once its supply capacity is strengthened.
On production, Teoh said the group has the capacity to produce between 800 and 1,000 tonnes annually, depending on prawn size.
He also noted that while black tiger prawn prices fluctuate seasonally, the company is working to stabilise both supply and pricing.
"We are moving towards antibiotics-free certification, which could command a 30 per cent premium over current prices,” he said.
Camaroe, founded in 2009, operates multiple coastal farms and a processing facility in Kapar, Selangor, specialising in live and frozen black tiger prawns for local wholesalers and international buyers.
Applications for the public issue are open from today and will close on Sept 12, 2025 at 5 pm.
M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO. - Bernama
