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The Star
a day ago
- Business
- The Star
ACE Market-bound Camaroe inks IPO underwriting deal with M&A Securities
From left: Camaroe executive director Low Saw Cheng, managing director Teoh Han Boon, M&A Securities managing director of corporate finance Datuk Bill Tan and deputy head of corporate finance Danny Wong KUALA LUMPUR: Integrated aquaculture group Camaroe Bhd has signed a deal with M&A Securities Sdn Bhd for the underwriting of 37.13 million initial public offering (IPO) shares allocated for the Malaysian public and under pink form allocations. Camaroe's IPO entails the issuance of 99 million new shares, comprising 24.75 million shares for the Malayian public, 12.38 million shares for eligible persons via the pink form allocations and 61.87 million shares via private placement to Bumiputera investors. There is also an offer for sale of 49.5 million existing shares by way of private placement to selected investors. The IPO proceeds will primarily be utilised for the construction of a new Bukit Raja processing facility, purchase of machinery and equipment, installation of solar panels, and the establishment of a biotechnology department. These initiatives are aimed at expanding processing capacity, improving sustainability, and driving operational efficiency, said the company. "We are grateful for the confidence and support of M & A Securities as we continue to build Camaroe into a trusted regional aquaculture brand. "With the IPO proceeds, we aim to enhance our processing infrastructure, adopt clean energy solutions, and invest in biotechnology to further enhance farming productivity and sustainability. These efforts will reinforce our position in the prawn export market," said Camaroe managing director Teoh Han Boon in a statement. M&A Securities is the principal adviser, sponsor, underwriter, and placement agent for the IPO. Trading ideas: Yinson, Zetrix AI, Ekovest, Insas, BFood, Ireaka, TechStore, Smile-Link, KAB, FSMB, MMC Port, Eco-Shop, Alpha IVF
The Star
16-07-2025
- Business
- The Star
Tiger prawn processor Camaroe gets nod from Bursa Malaysia to list
KUALA LUMPUR: Aquaculture group Camaroe Bhd has got the green light from Bursa Malaysia Securities to list on the ACE Market of the stock exchange. The group, which specialises in the farming and processing of black tiger prawns, said it its initial public offering (IPO) will involve the issuance of 99 million new shares, as well as an offer for sale of 49.5 million existing shares to selected investors. "With our strong foundation in prawn farming and our expanding processing capabilities, this IPO will allow us to increase production capacity, enhance operational efficiency through new machinery and technology, and strengthen our product quality through the establishment of a biotechnology department," said Camaroe managing director Teoh Han Boon in a statement. Accordingly, the IPO will allocate 24.75 million shares of 5% of the enlarged issued share capital to the Malaysian public. Half of these shares will be made available to public investors while the other half will be issued to Bumiputera public investors. A further 12.38 million shares of 2.5% of the enlarged issued share capital will go to eligible directors, key senior management and employees through pink form allocations. Meanwhile, 61.87 million shares or 12.5% of the enlarged issued share capital will be reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry Proceeds from the IPO will support the construction of a New Bukit Raja Processing Facility, the purchase of machinery and equipment, and the installation of solar panels to enhance sustainability. Additionally, Camaroe plans to establish a biotechnology department to strengthen its research capabilities and improve farming efficiencies. "Camaroe's well-established aquaculture infrastructure, coupled with its vertically integrated model and growing presence in export markets, places it in a favourable position to benefit from rising global demand for premium seafood. "The group's proven capabilities in producing quality black tiger prawns, as attested by its ability to meet locally and internationally recognised quality standards which make it a compelling listing candidate on the ACE Market,' said M&A Securities Sdn Bhd managing director Datuk Bill Tan. M&A Securities is the principal adviser, sponsor, underwriter, and placement agent for the IPO.
