KUALA LUMPUR, Integrated poultry producer and distributor Farmiera Bhd has formalised its move towards an initial public offering (IPO) with the signing of an underwriting agreement with Malacca Securities Sdn Bhd, marking a crucial milestone in its proposed listing on the ACE Market of Bursa Malaysia.
Farmiera Bhd has signed an underwriting agreement with Malacca Securities Sdn Bhd for its planned ACE Market listing on Bursa Malaysia.
Under the agreement, Malacca Securities will serve as Principal Adviser, Sponsor, Underwriter and Placement Agent, providing end-to-end guidance for Farmiera throughout the listing exercise.
The IPO exercise will involve the public issuance of 117 million new ordinary shares, equivalent to 26% of the enlarged share capital of the company. The shares will be allocated as follows:
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22.5 million shares for application by the Malaysian public;
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9 million shares for eligible directors, senior management, employees, and other contributors to the group’s growth;
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29.25 million shares for private placement to selected investors; and
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26.25 million shares for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
Integrated Halal Supply Chain
Farmiera operates a fully integrated halal poultry ecosystem encompassing farming, processing, and distribution. The group manages 15 company-owned broiler farms and partners with 44 contract farms across Selangor, Negeri Sembilan, Perak, Pahang and Melaka. Its downstream network includes two HALAL-certified processing facilities, supplying fresh, traceable poultry products to leading retailers, foodservice operators and wholesalers nationwide.
Farmiera managing director and chief executive officer Hong How Seng described the underwriting agreement as a turning point in the group’s growth journey.
“This agreement marks an important step forward in Farmiera’s transformation from a regional poultry supplier into a publicly listed player,” Hong said.
“We remain committed to expanding our operations sustainably, particularly through the development of parent stock farms and a hatchery, while continuing to deliver safe, high-quality halal poultry to the Malaysian market.”
Positioned for Growth
Industry analysts view Farmiera’s upcoming listing as timely, given the central role of poultry in Malaysia’s food security agenda. With one of the highest per capita chicken consumption rates in Asia, domestic demand for poultry remains resilient, even during periods of economic uncertainty. Meanwhile, Malaysia’s growing halal export potential presents further opportunities for Farmiera to expand regionally.
“Farmiera provides investors with direct exposure to a stable yet growing industry,” one analyst noted. “Its integrated model, strong supply chain, and expansion roadmap position the company well to capitalise on opportunities in both domestic and halal-certified export markets.”
Proceeds from the IPO are expected to support the construction of parent stock farms and a hatchery, the upgrade of automation systems, as well as working capital and debt reduction, reinforcing Farmiera’s operational capacity and financial position.
Strengthening Brand Visibility
Upon regulatory approval and completion of the book-building exercise, Farmiera’s shares are expected to make their debut on the ACE Market, a move that will enhance the company’s visibility among investors while granting greater financial flexibility.
“This IPO will not only strengthen our market position but also support our long-term mission to meet Malaysia’s demand for sustainable, traceable, and high-quality halal poultry products at home and abroad,” Hong added.
