Megan Holdings, which provides construction and maintenance of aquaculture farms, filed on Thursday with the SEC to raise up to $6 million in an initial public offering.
The Kuala Lumpur, Malaysia-based company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Megan Holdings would command a market cap of $81 million.
Megan Holdings provides services to aquaculture farms in Malaysia, primarily consisting of the construction of new farms and the upgrading of existing farms. In 2023, 62% of revenue came from the construction of new farms and 15% of revenue came from the upgrading of existing farms.
The Kuala Lumpur, Malaysia-based company was founded in 2020. It plans to list on the Nasdaq under the symbol MGN. EF Hutton is the sole bookrunner on the deal.
