Halal poultry producer, Farmiera Bhd has successfully gone for IPO listing to raise RM29.25 million (US$7 million) to support its upstream integration strategy.
Established in 2013, the Klang-based company is in broiler production and raw poultry processing. Farmiera currently operates 15 broiler farms and works with 44 contract farms across Selangor, Negri Sembilan, Perak, Pahang and Melaka. It also runs 2 halal-certified processing plants in Ipoh, Perak, and Lukut, Negri Sembilan.
About 76% of the IPO proceeds will be used to develop 2 parent stock farms and a hatchery, which will eventually supply 40% of its poultry farming requirements. Another 10% has been allocated for working capital, while the balance will be used to cover listing-related expenses.
Farmiera Managing Director and CEO Hong How Seng said the listing, along with the proceeds raised from the IPO, plays a pivotal role in driving the group’s growth strategy. He concluded, “We look forward to building on this momentum as we continue to deliver high-quality raw poultry products and create meaningful value for everyone who have supported us on this amazing IPO journey.”
