Megan Holdings Prices US$8.3 Million Follow-On Offering at US$0.40 Per Share
Megan Holdings Limited priced a 20.75 million share follow-on offering at US$0.40 per share, targeting US$8.3 million gross proceeds. Net proceeds will fund potential acquisitions, development of its Smart Farming System and general working capital with closing expected around February 27, 2026.
1. Offering Details
Megan Holdings Limited is conducting a follow-on offering of 20,750,000 Class A ordinary shares at US$0.40 per share on a reasonable best-efforts basis. The Company anticipates gross proceeds of US$8.3 million before placement agent fees and other offering expenses, with no minimum offering amount required.
2. Use of Proceeds
The Company plans to deploy net proceeds primarily to pursue strategic business ventures and potential acquisitions. Additional funding will support development of new products including its Smart Farming System and provide general working capital for ongoing operations.
3. Closing Conditions
The offering is expected to close on or about February 27, 2026, subject to customary closing conditions. D. Boral Capital LLC serves as the exclusive placement agent for the transaction under an effective Form F-1 registration statement.
4. Company Overview
Megan Holdings Limited specializes in the development, construction and maintenance of aquaculture farms in Malaysia. Since 2020, the Company has offered shrimp farm design, maintenance services and equipment sourcing, including a shrimp hatchery in Semporna and a 111-acre shrimp farm in Tawau.