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Malaysian maker of edible bird nest products plans $30 mln Nasdaq IPO
June 8, 2015 / 5:00 AM / 2 years ago

Malaysian maker of edible bird nest products plans $30 mln Nasdaq IPO

KUALA LUMPUR, June 8 (Reuters) - Malaysia’s Swiftlet Eco Park Holdings Sdn Bhd, one of the country’s largest makers of products developed from edible bird nests, said on Monday that it plans to list on the Nasdaq stock market.

The company aims to raise $30 million through the offering of a 30 percent stake and the listing is expected within 18 to 24 months, Chief Executive CH Tan told reporters after signing an agreement with New York’s QMIS Finance Securities Corp , its consulting partner for the IPO.

Swiftlet Eco makes coffee, skin care products, puddings and candies with nests made from swiftlets’ saliva, a delicacy that has been popular in China for its alleged health benefits for hundreds of years.

The IPO proceeds will be used to fund its market expansion in Middle East, Europe and the United States, according to Tan.

Reporting by Yantoultra Ngui; Additional reporting by Al-Zaquan Amer Hamzah; Editing by Edwina Gibbs

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