From left: Tan Kok Cheong, executive director and deputy CEO, Farmiera; Hong How Seng, managing director and CEO; Lim Chia Wei, managing director, Malacca Securities; Dennis Jee Chin Chee, chief operating officer
KUALA LUMPUR: Poultry producer and distributor Farmiera Bhd
has inked an underwriting agreement with Malacca Securities Sdn Bhd for its initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia.
Malacca Securities will be the principal adviser, sponsor, underwriter and placement agent.
The company said in a statement that the IPO comprised a public issue of 117 million new ordinary shares, representing 26% of its enlarged issued share capital.
The shares will be allocated as follows: 22.50 million shares for application by the Malaysian public; nine million shares for eligible key senior management and employees; and 29.25 million shares by way of private placement to selected investors.
Another 56.25 million shares will be allocated to selected bumiputra investors approved by the Investment, Trade and Industry Ministry.
“In appreciation of the trust and support we have received, we will continue to grow the group and advance sustainable production through construction of our parent stock farms and hatchery,” said Farmiera managing director and chief executive officer Hong How Seng.
Farmiera and its subsidiaries are primarily engaged in poultry farming and processing activities, including the supply of live broilers as well as the processing and distribution of halal-certified raw poultry products.
The group currently operates 15 company-owned broiler farms, engages 44 contract farms across Selangor, Negri Sembilan, Perak, Pahang and Melaka, and runs two halal-certified processing plants. — Bernama
