Malaysia, Kuala Lumpur, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Megan Holdings Limited (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 initial public offering (the "Offering") of 1,250,000 ordinary shares, par value US$0.0001 per share, ("Ordinary Shares"), at a public offering price of US$4.00 per Ordinary Share. The Company has granted a 45-day option to the underwriters to purchase up to 187,500 additional Ordinary Shares solely to cover over-allotments, if any. The Ordinary Shares began trading on the Nasdaq Capital Market on September 26, 2025 under the ticker symbol "MGN."

The Company received aggregate gross proceeds of US$5 million from the Offering, before deducting underwriting discounts and other related expenses.

Proceeds from the Offering will be used for: (i) sales and marketing; (ii) expansion opportunities through merger and acquisition activities; (iii) development of our "Smart Farming System" and (iv) general working capital and corporate purposes.

The Offering was conducted on a firm commitment basis. D. Boral Capital LLC. acted as the sole book-running manager for the Offering. Ortoli Rosenstadt LLP acted as U.S. counsel to the Company, and Loeb & Loeb LLP acted as U.S. counsel to the underwriters.

A registration statement on Form F-1 relating to the Offering, as amended, was filed with the U.S. Securities ...