Camaroe Berhad (“Camaroe” or the “Group”), an integrated aquaculture group specialising in the farming and processing of black tiger prawns, is pleased to announce that it has received approval from Bursa Malaysia Securities Berhad (“Bursa Securities”) on 26 May 2025 for its listing on the ACE Market of Bursa Securities.
The Group’s proposed Initial Public Offering (“IPO”) will enable it to significantly scale up processing capacity, improve operational efficiency, and support future growth through enhanced infrastructure.
Founded in 2009, Camaroe has grown from 4 ponds to now, 138 ponds across 5 coastal prawn farms and a dedicated processing facility in Kapar, Selangor.
The Group processes live and frozen black tiger prawns, both head-on shell-on and peeled. Its products are distributed to both international buyers across China, South Korea and Taiwan as well as local wholesalers.
The Initial Public Offering (“IPO“) involves the issuance of 99.0 million new ordinary shares and an offer for sale of 49.5 million existing shares, structured as follows:
Public Issue
- Malaysian Public:
- 24.75 million shares or 5.00% of the Group’s enlarged issued share capital, with 2.50% made available to public investors and the remaining 2.50% are made available to Bumiputera public investors.
- Eligible Persons:
- 12.38 million shares or 2.50% of the enlarged issued share capital will be allocated to eligible directors, key senior management and employees through Pink Form Allocations.
- Private Placement to Bumiputera Investors:
- 61.87 million shares or 12.50% of the enlarged issued share capital are reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (“MITI“).
Offer for sale
- Offer for sale of 49.50 million shares or 10.00% of the enlarged issued share capital by way of private placement to selected investors.
Mr. Teoh Han Boon, Managing Director of Camaroe Berhad, commented,
“This bursa approval marks a significant chapter in our journey from a small aquaculture operator selling prawns to local seafood processors and wholesalers to becoming a vertically integrated black tiger prawn supplier.
With our strong foundation in prawn farming and our expanding processing capabilities, this IPO will allow us to increase production capacity, enhance operational efficiency through new machinery and technology, and strengthen our product quality through the establishment of a biotechnology department.
We are excited to continue creating sustainable growth and delivering premium black tiger prawns that meet the highest standards.”
Datuk Bill Tan, Managing Director of M & A Securities Sdn Bhd, added,
“Camaroe’s well-established aquaculture infrastructure, coupled with its vertically integrated model and growing presence in export markets, places it in a favourable position to benefit from rising global demand for premium seafood. The Group’s proven
capabilities in producing quality black tiger prawns, as attested by its ability to meet locally and internationally recognised quality standards which make it a compelling listing candidate on the ACE Market.”
The Group’s evolution from a traditional aquaculture operator into a vertically integrated seafood exporter is underscored by its ongoing capacity expansion plans.
Proceeds from the IPO will support the construction of a New Bukit Raja Processing Facility, the purchase of machinery and equipment, and the installation of solar panels to enhance sustainability.
Additionally, Camaroe plans to establish a biotechnology department to strengthen its research capabilities and improve farming efficiencies. With its strong foundations, expanding export footprint and forward-looking investments, Camaroe is well-positioned to capture long-term growth in the regional aquaculture and seafood markets.
M & A Securities Sdn Bhd is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for this IPO.
For more information, visit https://www.camaroe.com.my/
