Core Viewpoint - Megan Holdings Limited has successfully completed its initial public offering, raising a total of US$5 million by offering 1,250,000 ordinary shares at a price of US$4.00 per share, with trading commencing on the Nasdaq Capital Market under the ticker symbol "MGN" [1][2]. Group 1: Offering Details - The offering included a 45-day option for underwriters to purchase an additional 187,500 shares to cover over-allotments [1]. - The proceeds from the offering will be allocated towards sales and marketing, expansion through mergers and acquisitions, development of a "Smart Farming System," and general working capital [2]. Group 2: Company Background - Megan Holdings Limited, established in 2020, focuses on the development, construction, and maintenance of aquaculture farms, particularly shrimp farms, in Malaysia [5]. - The company has undertaken projects such as a shrimp hatchery center in Semporna and a 111-acre shrimp farm in Tawau, positioning itself as a comprehensive service provider in the aquaculture sector [5].
Megan Holdings Limited Announces Closing of $5 Million Initial Public Offering