Agricore CS Holdings Berhad has obtained approval from Bursa Malaysia Securities Berhad to list on the ACE Market of Bursa Securities.
The initial public offering will involve the issuance of 51.7 million new shares, representing 25.5% of its enlarged share capital upon listing.
Of the 51.7 million new shares, 10.1 million new shares will be available to the Malaysian public via balloting; 10.1 million new shares for its eligible Directors, employees and persons who have contributed to the success of Agricore Group under pink form allocations; 25.4 million new shares have been reserved for private placement to Bumiputera investors approved by the Ministry of International Trade and Industry while the remaining 6.1 million new shares are earmarked for private placement to selected investors.
Agricore Group is principally involved in the sourcing and distribution of plant-based agricultural food ingredients as well as production and sale of food additives and fried shallots.
Agricore is scheduled to list on the ACE Market of Bursa Securities by June 2024.
