Borneo Aqua signs underwriting pact with CIMB
The Star
15 July 2005

Borneo Aqua Harvest Bhd has signed an underwriting agreement with Commerce International Merchant Bankers Bhd (CIMB) in conjunction with its proposed listing on the Mesdaq market of Bursa Malaysia.

Borneo Aqua will be the first Sabah-based company to have CIMB as its adviser, sponsor, underwriter and placement agent.

Managing director and chief executive director Datuk Lo Fui Ming signed on the behalf of the company while director/co-Head of Corporate Finance, Lim Tiang Siew on behalf of CIMB.

Borneo Aqua will be making a public issue of 25 million 10 sen shares at 99 sen per share, of which 2.5 million will be available to the public, and eligible directors and employees of the company and its subsidiaries.

The remaining 22,500,000 shares will be issued by private placement to identified investors. Borneo Aqua said it would be implementing a bonus issue on the basis of two for one prior to the listing exercise.

The company is mainly an investment holding company for Plentiful Harvest Sdn Bhd (Plentiful) and Marine Terrace Sdn Bhd (Marine).

Its main activities are fish breeding with operation of fish hatchery and fish rearing while Marine is involved in fish rearing. - Bernama