Cows producing milk for Farm Fresh are well taken care of and fondly referred to as "girls and ladies."
PETALING JAYA: Khazanah Nasional Bhd has ceased to become a substantial shareholder of dairy producer Farm Fresh Bhd
, when the former’s full subsidiary Agrifood Resources Holdings Sdn Bhd offloaded 65 million of Farm Fresh’s shares.
In an exchange filing, it was revealed that Khazanah, through Agrifood Resources, held 6.487% of Farm Fresh before the disposal, which has now been reduced to 3.023%.
In 2019, Khazanah acquired about 30% of Farm Fresh, then known as The Holstein Milk Company, as part of the fund’s strategic investment in Malaysia’s food security and dairy self-sufficiency agenda.
Since Farm Fresh went public in March 2022, however, Khazanah has gradually pared down its stake in the dairy and farming player through open market disposals.
Farm Fresh’s listing three years ago was one of the largest initial public offerings of 2022, with a price of RM1.35 which gave it a market capitalisation of RM2.5bil upon listing, while raising more approximately RM1bil.
