Megan Holdings Limited Announces Closing of $7.5 Million Follow-on Public Offering
Key Highlights
- ➤Megan Holdings (MGN) closed a $7.5 million follow-on public offering
- ➤15 million Class A shares sold at $0.50 per share
- ➤Net proceeds earmarked for business ventures, acquisitions, and working capital
- ➤SEC declared the offering’s Form F-1 registration statement effective October 27, 2026
Malaysia, Kuala Lumpur, Oct. 29, 2026 (GLOBE NEWSWIRE) -- Megan Holdings Limited (Nasdaq: MGN) (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 reasonable best efforts follow-on public offering (the “Offering”) of 15,000,000 Class A ordinary shares, par value US$0.003 per share, at a public offering price of US$0.50 per share.
Gross proceeds to the Company, before deducting placement agent fees and other offering expenses, were approximately US$7.5 million. The Company intends to use the net proceeds from the Offering for, business ventures and acquisitions and general working capital.
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