Camaroe Berhad (“Camaroe” or the “Group”), an integrated aquaculture group specialising in the farming and processing of black tiger prawns, has officially inked an underwriting agreement with M & A Securities Sdn Bhd (“M & A Securities”) in preparation for its Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
Founded in 2009, Camaroe has grown from operating 4 ponds to managing 138 ponds across 5 coastal prawn farms, supported by a dedicated processing facility in Kapar, Selangor.
The Group is involved in the sale of live black tiger prawns as well as processing and sale of 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.
According to the exposed prospectus published on Bursa Securities’ website, Camaroe’s IPO involves the issuance of 99.00 million new ordinary shares and an offer for sale of 49.50 million existing shares.
The allocation of IPO shares is 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, employees and persons contributing to the success of the Group 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.
Under the terms of the underwriting agreement, M & A Securities will underwrite 37.13 million shares, comprising those allocated to the Malaysian public and eligible persons via Pink Form allocations. The remaining shares will be placed to Bumiputera and selected investors via private placements.
Mr. Teoh Han Boon, Managing Director of Camaroe Berhad, shared,
“The signing of this underwriting agreement is a significant step forward in our listing journey. We are grateful for the confidence and support of M & A Securities as we continue to build Camaroe into a trusted regional aquaculture brand.
With the IPO proceeds, we aim to enhance our processing infrastructure, adopt clean energy solutions, and invest in biotechnology to further enhance farming productivity and sustainability. These efforts will reinforce our position in the prawn export market.”
Datuk Bill Tan, Managing Director of M & A Securities Sdn Bhd, added,
“We are pleased to support Camaroe in its transition to a public-listed company. With its vertically integrated business model, established export channels, and experienced management, the Group is well-positioned to capture the growing demand for premium black tiger prawn across Asia-Pacific. This IPO will equip Camaroe with the capital and strategic direction to scale operations and deliver long-term value.”
As outlined in the prospectus, the IPO proceeds will primarily be utilised for the construction of a new Bukit Raja Processing Facility, purchase of machinery and equipment, installation of solar panels, and the establishment of a biotechnology department.
These initiatives are aimed at expanding processing capacity, improving sustainability, and driving operational efficiency.
Camaroe’s consistent growth, expanding export footprint, and forward-looking investments reflect its commitment to innovation, environmental responsibility, and excellence in aquaculture. With the upcoming listing on the ACE Market, the Group is poised to scale new heights in the regional prawn industry.
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/
