PETALING JAYA: Camaroe Bhd, an integrated aquaculture group specialising in the farming and processing of black tiger prawns, has received approval from Bursa Malaysia to be listed on the ACE Market of Bursa Securities.

In a statement, the company said it received the green light from Bursa for its initial public offering (IPO) on May 26.

The IPO involves the issuance of 99 million new ordinary shares and an offer for sale of 49.5 million existing shares.

For the Malaysian public, a total of 24.75 million shares or 5% of the group’s enlarged issued share capital will be made available, with 2.5% made available to public investors and 2.5% for bumiputra public investors.