April 22, 2019
The company has secured funding commitment from 10 cornerstone investors including the Employees Provident Fund (EPF), AIA Group and well-known investor Chua Ma Yu, ahead of its initial public offering (IPO) to raise up to US$400 million (RM1.65 billion).
Quoting sources, the report said Leong Hup is expected to launch its prospectus as early as this week, and list on the stock exchange next month.
Leong Hup has been said to operate in an industry with significant barriers to entry, such as industry know-how and regulatory restrictions, providing it with a continued competitive advantage.
Its profit after tax and minority interests saw a two-year compounded annual growth rate (CAGR) of 32.4% between 2015 and 2017, while the CAGR for revenue during the period at 8%.
It is the largest producer of day-old-chicks (DOC) in Malaysia and among the top three producers of DOC in Indonesia and Vietnam.