Farm Fresh eyes RM1 bln proceeds, RM2.5 bln market cap on listing

Farm Fresh eyes RM1 bln proceeds, RM2.5 bln market cap on listing. [Newspaper] (2022)


KUALA LUMPUR: Malaysian dairy company Farm Fresh Bhd is eyeing proceeds of RM1 billion and a market capitalisation of RM2.5 billion upon its listing on Bursa Malaysia’s Main Market based on its initial retail price of RM1.35 per share. Proceeds to the company of about RM301.0 million will be utilised to establish a new manufacturing hub, dairy farm and integrated processing facility in Malaysia, expansion of a production facility in Australia, regional expansion outside Malaysia and for working capital together with listing expenses.The initial public offering, en route for listing on March 22, has secured support from a record number of 30 cornerstone investors, Farm Fresh said in a statement issued in conjunction with its prospectus launch today. They are Abrdn, Affin Hwang Asset Management, AIA, Alcea Rosea (Creador), Barings Singapore, Eastsprings Investments, Employees Provident Fund, Fortress Capital Asset Management, Franklin Templeton Asset Management (Malaysia), Great Eastern Life Assurance (Malaysia), Hong Leong Asset Management, Hong Leong Assurance, JPMorgan Asset Management (Singapore), KAF Investment Funds, Kenanga Investors, Retirement Fund (Incorporated), Lembaga Tabung Haji, Manulife Investment Management, Maybank Asset Management, Merit Glory (Ikhlas Capital), New Silk Road Investment, OAKS Emerging Umbrella Fund, Permodalan Nasional Bhd, Principal Asset Management, Social Security Organisation, UBS Asset Management (Singapore), UOB Asset Management (Malaysia), Urusharta Jamaah, Value Partners Hong Kong and Zurich Life Insurance Malaysia.

Item Type: Newspaper
Keywords: Investment, Investors, Revenue growth, Stock market
Taxonomy: By Subject > Business & Management > Economics
By Subject > Business & Management > Finance
Local Content Hub: Subjects > Business & Management
Depositing User: Jamil Jawi
Date Deposited: 17 Jun 2022 09:03
Last Modified: 17 Jun 2022 09:03
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