SBH Marine in Malaysia has launched its initial public offering (IPO). The IPO aims to raise up to USD 10.71 million.

IPO Details

The IPO is priced at USD 0.04658 per share and comprises a public issue of 180 million new ordinary shares, along with an offer for sale of 50 million existing ordinary shares, as outlined in the prospectus. This move represents a sale of approximately 26% stake in the company, positioning its valuation at USD 41.34 million.

Investors interested in the IPO have until March 25 to submit their applications for shares. The company has set the listing on the ACE Market for April 8, providing a clear timeline for interested stakeholders to engage with this opportunity.

SBH Marine: A Diverse Portfolio

SBH Marine specializes in the processing and sale of a variety of frozen seafood products, including shrimp, squid, octopus, and cuttlefish. Additionally, the company operates farms for black tiger prawns and whiteleg shrimp in Perak.

A significant portion of the proceeds from the IPO, amounting to USD 3.39 million, has been allocated for the development of the Selinsing farm.

Furthermore, the company intends to allocate USD 1.38 million towards the construction of a new seafood processing plant, allowing it to meet growing market demands efficiently.

Driving Growth and Innovation

SBH Marine is poised to leverage the funds raised through the IPO to drive growth and innovation within the frozen seafood industry. With investments planned in farm development, processing infrastructure, and equipment acquisition, the company is well-positioned to capitalize on emerging opportunities.