Farm Fresh proposes 743.18m shares on Bursa

by TMR / pic credit: Farm Fresh Milk Malaysia FB

KHAZANAH Nasional Bhd-backed Farm Fresh Bhd (formerly known as Holstein Milk Company Sdn Bhd) has filed a draft prospectus on Securities Commission Malaysia’s website.

According to the draft IPO prospectus, Farm Fresh proposes to issue 743.18 mil ordinary shares on the Main Market of Bursa Malaysia Securities Bhd.

It comprises an offer for sale of up to 520.23 existing shares and 222.95 new shares.

Of the total 743.18 million shares, up to 687.44 million shares offered to Malaysian and foreign institutional and selected investors, including Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia at the institutional price to be determined by way of bookbuilding.

While the remaining 55.74 mil shares will be offered to retail investors.

Khazanah owns 30% in Farm Fresh via one of its investment vehicles Agrifood Resources Holdings Sdn Bhd.