Shares in Malaysian dairy manufacturer Farm Fresh Bhd began 26% higher than the offer price at its market debut on Tuesday, generating RM1 billion in the highest listing since July last year (CTOS Digital raised RM1.2 last year), with share prices rising as much as 34% in the first few minutes of trading.
Farm Fresh will utilise the profits to construct a new manufacturing centre, a dairy farm, and an integrated processing facility in Malaysia, as well as expand its Australian production plant and expand into neighbouring regions, according to Group MD and Chief Executive Loi Tuan Ee.
“Our listing today is a significant step forward in our goal to becoming a regional player,” he says.
