Frozen seafood processor and trader, Ocean Fresh Berhad made it debut on the Bursa Ace Market at 85 sen with an opening volume of 4,883,600 shares which is a premium of 204%.
The group successfully raised approximately RM14.01 million from its initial public offering exercise via the issuance of 50.05 million new ordinary shares at an issue price of RM0.28 per share. OFB intends to utilise RM8.00 million as
capital expenditure for its new cold storage facility in Kuantan, Pahang while another RM2.51 million will be used for working capital requirements.
The remaining RM3.50 million meanwhile will be used for estimated listing expenses.