Leong Hup kicks off return to Bursa
Lau(filepic), who is the executive director and group chief executive officer of Leong Hup, told StarBiz that a significant portion of the proceeds to be raised from the IPO would be used to fund its regional expansion. “We are looking at countries with strong population growth,” he said
KUALA LUMPUR: Tan Sri Francis Lau Tuang Nguang, dubbed the “chicken king” of Malaysia, is making his return to the local bourse with the biggest initial public offering (IPO) in almost two years that will test investors’ appetite for chicken producers. Leong Hup International Bhd, which owns livestock feed mills and poultry businesses in five countries, is targeting to raise up to RM1.2bil in its IPO that includes an over-allotment option.
The IPO price values Leong Hup at about RM4bil, giving it the crown of the most valuable poultry producer on Bursa Malaysia.
The company is launching its prospectus today.
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