Leong Hup makes Bursa debut at premium of two sen over IPO price
Leong Hup International Bhd, one of the largest integrated producers of poultry, egg and livestock feed in Southeast Asia, is expected to raise RM275 million through the listing. — Picture by Hari Anggara
It was one of the largest IPO’s since 2017 and in 10 minutes of trade, Leong Hup’s shares rose by another five sen. Executive director/group chief executive officer Tan Sri Lau Tuang Nguang said about RM207.7 million or 75 per cent of the proceeds would be utilised for the company’s capital expenditure.“A further 12 per cent of the proceeds will be used for working capital and the balance of 12.5 per cent be used to defray fees and expenses for our IPO and listing,” he told a press conference after the company’s listing today.
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