MALAYSIAN dairy producer Farm Fresh aims to raise RM1 billion (S$323.3 million) from its initial public offering (IPO) in March, which will be the largest listing in the country since June 2021.

The IPO involves an offer for sale of up to 520.2 million existing shares and a public issue of 223 million new shares, based on the initial retail price of RM1.35 per share.

After the listing on Bursa Malaysia's main market on March 22, Farm Fresh is expected to have a market capitalisation of RM2.5 billion, its top executives said at the IPO prospectus launch on Monday (Feb 28).