Core Viewpoint - Megan Holdings Limited has successfully closed a follow-on public offering of 20,750,000 Class A ordinary shares at a price of US$0.40 per share, raising gross proceeds of US$8.3 million before expenses [1][2]. Company Overview - Megan Holdings Limited is a Malaysia-based company focused on the development, construction, and maintenance of aquaculture farms, particularly shrimp farms [5]. - Since its establishment in 2020, the company has aimed to be a reliable provider of shrimp farm maintenance services in Malaysia [5]. - The company is involved in the design and development of new aquaculture facilities, including a shrimp hatchery center in Semporna and a 111-acre shrimp farm in Tawau, Sabah [5]. - Megan Holdings also offers assistance in sourcing building materials and machinery for aquaculture operations, positioning itself as a comprehensive service provider in the aquaculture sector [5]. Offering Details - The public offering was conducted under a registration statement on Form F-1, which was declared effective by the U.S. Securities and Exchange Commission on February 23, 2026 [3]. - D. Boral Capital LLC served as the exclusive placement agent for the offering, while Ortoli Rosenstadt LLP and Loeb & Loeb LLP acted as U.S. securities counsel for the company and the placement agent, respectively [2].
Megan Holdings Limited Announces Closing of $8.3 Million Follow-on Public Offering