We expect to use the gross proceeds from our Public Issue amounting to RM301 million(1) in the following manner:
| Details of use of proceeds | Estimated timeframe for the use of proceeds upon Listing | RM'000 | % of total gross proceeds from the Public Issue |
|---|---|---|---|
| Capital expenditure of our Group | |||
| (i) Establishment of a new manufacturing hub, a new dairy farm and integrated processing facility in Malaysia | Within 24 months | 140,000 | 46.5 |
| (ii) Expansion of our production facility in Australia | Within 18 months | 60,000 | 19.9 |
| (iii) Regional expansion outside of Malaysia | Within 24 months | 40,000 | 13.3 |
| Working capital | Within 12 months | 40,789 | 13.6 |
| Estimated listing expenses | Within 3 months | 20,200 | 6.7 |
| Total | 300,989 | 100.0 |
Note:
| (1) | We have assumed that the Institutional Price and the Final Retail Price will be equal to the Retail Price. |
* Please read this section in conjunction with Section 4.6 on page 37 to page 44 of Farm Fresh Berhad’s Prospectus dated 28 February 2022.