Malaysian maker of edible bird nest products plans US$30m Nasdaq IPO
[KUALA LUMPUR] Malaysia's Swiftlet Eco Park Holdings Sdn Bhd, one of the country's largest makers of products developed from edible bird nests, said on Monday that it plans to list on the Nasdaq stock market.
The company aims to raise US$30 million through the offering of a 30 per cent stake and the listing is expected within 18 to 24 months, Chief Executive CH Tan told reporters after signing an agreement with New York's QMIS Finance Securities Corp , its consulting partner for the IPO.
Swiftlet Eco makes coffee, skin care products, puddings and candies with nests made from swiftlets' saliva, a delicacy that has been popular in China for its alleged health benefits for hundreds of years.
The IPO proceeds will be used to fund its market expansion in Middle East, Europe and the United States, according to Mr Tan.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Billionaire Geiger is said to near US$7 billion L’Occitane buyout
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years