Megan Holdings Limited Announces Closing of $5 Million Initial Public Offering

Rhea-AI Summary

Megan Holdings Limited (NASDAQ:MGN), a Malaysia-based aquaculture farm development and maintenance company, has successfully completed its Initial Public Offering (IPO) of 1,250,000 ordinary shares at $4.00 per share, raising gross proceeds of $5 million.

The company's shares began trading on the Nasdaq Capital Market on September 26, 2025. Underwriters have a 45-day option to purchase up to 187,500 additional shares for over-allotments. The proceeds will fund sales and marketing initiatives, M&A opportunities, development of their "Smart Farming System," and general working capital.

Positive

• Successfully raised $5 million through IPO on Nasdaq Capital Market
• Strategic allocation of funds for growth initiatives including M&A and Smart Farming System development
• Underwriters have additional 45-day option for 187,500 shares showing potential market interest

Negative

• Relatively small IPO size of $5 million may limit growth potential
• Potential dilution from additional 187,500 shares if over-allotment option is exercised

Insights

IPO Specialist

Megan Holdings completed a modest $5M IPO at $4/share, gaining Nasdaq listing for its aquaculture business with proceeds targeting expansion and technology development.

Megan Holdings has successfully completed its $5 million initial public offering, selling 1,250,000 shares at $4.00 per share. This Malaysia-based aquaculture company has secured its listing on the Nasdaq Capital Market under the symbol MGN, with trading having commenced on September 26.

The $5 million gross proceeds represent a relatively modest IPO by current market standards, suggesting a targeted approach to capital raising. The company has granted underwriters a 45-day option to purchase up to 187,500 additional shares to cover potential over-allotments, which could add approximately $750,000 in proceeds if fully exercised.

The stated use of proceeds indicates a multi-pronged growth strategy focusing on: (1) sales and marketing expansion; (2) potential M&A activities; (3) development of their proprietary "Smart Farming System"; and (4) general working capital. This allocation suggests the company is balancing immediate operational needs with longer-term technological and inorganic growth initiatives.

This IPO was conducted on a firm commitment basis with D. Boral Capital serving as the sole book-runner, indicating the underwriter purchased all offered shares outright rather than merely making best efforts to sell them. This structure typically provides more certainty for the issuing company but may have influenced the modest offering size and pricing.

For a Malaysia-based aquaculture company, securing a Nasdaq listing represents significant access to U.S. capital markets, potentially enabling future capital raises and providing enhanced visibility in the global aquaculture sector, which has been seeing increased investor interest due to food security concerns and sustainable protein demands.

Malaysia, Kuala Lumpur, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Megan Holdings Limited (the “Company” or “Megan”), a Malaysia-based company principally engaged in the development, construction, and maintenance of aquaculture farms and related works, today announced the closing of its initial public offering (the “Offering”) of 1,250,000 ordinary shares, par value US$0.0001 per share, (“Ordinary Shares”), at a public offering price of US$4.00 per Ordinary Share. The Company has granted a 45-day option to the underwriters to purchase up to 187,500 additional Ordinary Shares solely to cover over-allotments, if any. The Ordinary Shares began trading on the Nasdaq Capital Market on September 26, 2025 under the ticker symbol “MGN.”

The Company received aggregate gross proceeds of US$5 million from the Offering, before deducting underwriting discounts and other related expenses.

Proceeds from the Offering will be used for: (i) sales and marketing; (ii) expansion opportunities through merger and acquisition activities; (iii) development of our “Smart Farming System” and (iv) general working capital and corporate purposes.

The Offering was conducted on a firm commitment basis. D. Boral Capital LLC. acted as the sole book-running manager for the Offering. Ortoli Rosenstadt LLP acted as U.S. counsel to the Company, and Loeb & Loeb LLP acted as U.S. counsel to the underwriters.

A registration statement on Form F-1 relating to the Offering, as amended, was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-281357) and was declared effective by the SEC on September 22, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from D. Boral Capital LLC., 590 Madison Avenue, 39th Floor, New York, NY 10022, or by telephone at +1 (212) 970-5150, or by email at: info@dboralcapital.com. In addition, copies of the final prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Megan Holdings Limited

Megan Holdings Limited (the “Company” or “Megan”) is a Malaysia-based company principally engaged in the development, construction, and maintenance of aquaculture farms and related works. Since its inception in 2020, the Company has strived to establish itself as a trusted and experienced provider of shrimp farm related maintenance services in Malaysia. Complementary to its upgrading and maintenance services, Megan also assists customers with the design and development of new farms, including the development and construction of a shrimp hatchery center in Semporna, Sabah, and the development of a 111-acre shrimp farm in Tawau, Sabah, Malaysia. Megan also assists customers in sourcing building materials and machineries available for rental for use on their farms, positioning itself as a one-stop center for aquaculture and agriculture needs. For more information, please visit the Company’s website: https://www.meganmezanin.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s proposed offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate” or other similar expressions in its prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Registration Statement and other filings with the SEC.

For media inquiries, please contact:

Megan Holdings Limited

Investor Relations Department

Email: info@meganmezanin.com

FAQ

What is the IPO price and size of Megan Holdings (NASDAQ:MGN)?

Megan Holdings completed its IPO at $4.00 per share, offering 1,250,000 ordinary shares and raising $5 million in gross proceeds.

When did Megan Holdings (MGN) start trading on Nasdaq?

Megan Holdings began trading on the Nasdaq Capital Market on September 26, 2025 under the ticker symbol MGN.

How will Megan Holdings use its IPO proceeds?

The proceeds will be used for sales and marketing, M&A expansion opportunities, development of their Smart Farming System, and general working capital purposes.

What is Megan Holdings' (MGN) main business?

Megan Holdings is a Malaysia-based company primarily engaged in the development, construction, and maintenance of aquaculture farms and related works.

Who are the underwriters for Megan Holdings' IPO?

D. Boral Capital LLC acted as the sole book-running manager for the IPO, which was conducted on a firm commitment basis.