Kuala Lumpur, 2 October 2025 – Camaroe Bhd, a prawn farming enterprise, made a strong entry on Bursa Malaysia’s ACE Market today after raising RM20 million in its initial public offering (IPO). Its shares opened at 16 sen, up from the IPO price of 14 sen, before settling around 15.5 sen in early trading. The listing values the firm at approximately RM76 million.
Investor demand was evident: the public portion of the IPO was oversubscribed by 15 times, with 402.4 million shares applied for, equivalent to RM56 million. The Bumiputera allocation was nearly seven times oversubscribed, while non-Bumiputera tranches saw 23-times demand. The private placement of existing shares was fully taken up, although a tranche of new shares reserved for approved Bumiputera investors was undersubscribed and reallocated.
Camaroe operates across multiple states with 138 ponds spanning coastal farms in Tanjung Karang, Penor, and Marang, and a processing facility in Kapar, Selangor. Its product mix includes live and frozen prawns, both head-on shell-on and peeled, for domestic wholesalers and export markets such as China, South Korea, and Taiwan.
Roughly RM13.86 million of the proceeds raised via the public offering will fund a new processing plant in Bukit Raja, slated for completion by the first quarter of 2029. This facility will replace the current Kapar plant and incorporate upgraded machines and solar panels to enhance energy efficiency. In addition, Camaroe plans to set up an in-house biotechnology unit focused on R&D in probiotics and feed supplements to improve farming yields and sustainability.
The IPO allocated 30 percent of the enlarged share capital to new shareholders. About RM7 million of the proceeds will be directed to Camaroe’s managing director and executive director, who sold parts of their holdings in the offering. M&A Securities served as principal adviser, sponsor, underwriter, and placement agent for the listing.
Investor Insights for Asia
Camaroe’s successful listing points to steady investor appetite for agritech and sustainable food sectors in Southeast Asia, especially amid rising interest in aquaculture and food security. Its vertically integrated model, covering hatchery, farming, processing, and distribution, provides resilience, cost control, and value capture across the value chain.
The planned processing expansion with energy-efficiency upgrades signals an ambition to scale responsibly. For investors, the transition into R&D capabilities (e.g. biotechnology, feed supplements) is especially notable: it could enable differentiation, margin expansion, and long-term sustainability.
However, risks are present. Aquaculture is vulnerable to disease, climate events, and feed cost volatility. Execution of the new plant, ability to penetrate export markets, and maintaining biosecurity will be critical. Given its small market cap and sector focus, Camaroe should be viewed as a high-reward, high-risk play within Malaysia’s agrifood landscape.
