KUALA LUMPUR (Sept 17): Farmiera Bhd, a poultry producer and distributor, has signed an underwriting agreement with Malacca Securities Sdn Bhd to support its upcoming initial public offering (IPO) and listing on Bursa Malaysia’s ACE Market.
Farmiera filed its IPO draft prospectus with Bursa Malaysia in March this year.
Farmiera and its subsidiaries raise and process poultry, supplying live broilers and halal-certified raw poultry products. They run 15 broiler farms and work with 44 contract farms across several states, plus two halal processing plants.
The IPO will offer 117 million new shares, making up 26% of the company’s total shares after listing. Shares will be divided as follows:
- 22.5 million shares for the Malaysian public
- 9 million shares for key management, employees and contributors
- 29.25 million shares through private placement to selected investors
- 56.25 million shares for selected Bumiputera investors approved by the government
Farmiera CEO Hong How Seng, in a statement, said the underwriting agreement is a big milestone for the company. He thanked supporters and said the company will focus on growing sustainably, building parent stock farms and hatcheries, and delivering fresh, quality poultry products for future success.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
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