Tg Agrosolutions Limited Successfully Listed On The National Stock Exchange Of Australia

Tg Agrosolutions Limited Successfully Listed On The National Stock Exchange Of Australia

KUALA LUMPUR, 19 MARCH 2015 – (NSX:TG8) TG Agrosolutions Limited begun trading on the National Stock Exchange of Australia (NSX) on Monday, February 16, 2015 under the company’s stock code TG8.

The group specialises in cultivating and supplying high quality rubber and oil palm seedlings via its operating subsidiary based in Sarawak, TG Agro Seedlings Sdn Bhd.

On listing, the company had 252 million shares at an issue price of AUD0.35 (RM0.95) a share, giving the company a market capitalization of AUD88.2 mil (RM245.5 mil). At the end of its first day trading, the group’s share closed at AUD0.48 (RM1.33), up 37.1% from its Offer Price.

Present at the dinner to celebrate their successful listing were YM Tunku Syed Razman bin Tunku Syed Idrus Al Qadri, Chairman of TG8; YH Dato’ Dr. Zuraidi bin Ishak, Political Secretary, Ministry of Agriculture & Agro-Based Industry; YBhg Dato’ Yap Foot Loy, Chief Executive Officer of TG8; and Chong Wee Chong, representative of NSX.

“We have established a stronger foundation through this listing exercise with NSX. The move to list on the NSX provides TG Agrosolutions Limited with a unique opportunity to further penetrate and capture the remaining market share in seedlings cultivation and the supply segment. In addition, services including logistics, planting and replanting, and plantation assets development, will be expanded as part the group’s business expansion plan,” said Yap

Yap added that he is pleased with the strong debut of the group’s shares on the first day of trading.

In 2014, the subsidiary’s unaudited profit after tax rose by 25% compared to 2013. Yap mentioned that this significant increase will allow the group to be more optimistic about their future growth plans upon listing on the NSX platform.

TG8 along with its subsidiary has accumulated over 30 years of experience in the seedling industry, specialising in cultivating and supplying high quality rubber and oil palm seedlings. The group currently operates on more than 130 acres of agriculture land in Miri using proven cultivation techniques to achieve rubber and oil palm seedling production capacity of over 10mil units annually. The group also provides logistic services to transport and distribute seedlings, fertilisers and planting materials to customers.

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