WebsiteIntroduction
MEGAN HOLDINGS LIMITED (NASDAQ: MGN) is a Kuala Lumpur-based company founded in 2020 that specializes in the development, construction, and maintenance of aquaculture and agriculture farms in Malaysia. A subsidiary of Star Sprite Limited, the company also supplies and rents industrial machinery for farm operations and undertakes upgrades and maintenance of existing facilities.
Corporate Structure and Leadership
Megan Holdings operates under the governance of a board and executive team with backgrounds in strategic planning and technology. While the exact employee count is not publicly disclosed, LinkedIn profiles indicate leadership with experience in strategic roles at notable firms. The company’s organizational framework supports project management, engineering, and sales functions catered to aquaculture and agriculture clients.
Aquaculture by Bob Brewer
Developments and Market Debut
On September 22, 2025, the U.S. Securities and Exchange Commission declared effective Megan Holdings’ Form F-1 registration (File No. 333-281357). The company announced the pricing of its initial public offering on September 25, 2025, offering 1,250,000 ordinary shares at US$4.00 per share, with an over-allotment option of up to 187,500 additional shares. Trading commenced on September 26, 2025, under the ticker “MGN” on The Nasdaq Stock Market. Shares opened at US$6.94, reflecting a 73.50% increase over the offering price.
Key filings and dates:
- September 22, 2025: SEC effectiveness notice for Form F-1
- September 25, 2025: Certification (Form 8-A) and IPO pricing announcement
- September 26, 2025: First day of trading, price US$6.94; volume 1,845,744 shares
Financial and Strategic Overview
For the year ended June 30, 2024, Megan Holdings reported US$19 million in revenue. In the calendar year 2024 (MYR financial statements), revenue totaled MYR 60.29 million, which was a 29.26% decline from MYR 85.24 million in 2023, while net earnings of MYR 4.78 million fell by 42.26%. The company has a debt-to-equity ratio of 0.11 and reported a return on equity of 14% for the trailing twelve months to December 2024, which is above the 10% industry average in food and agriculture.
Proceeds from the US$5 million base IPO (before underwriting discounts) are allocated for sales and marketing, expansion through mergers and acquisitions, development of a “Smart Farming System,” and general working capital.
Market Position and Industry Context
Megan Holdings serves Malaysia’s aquaculture sector, with a focus on shrimp and fish farms that require specialized construction and maintenance. The company operates in a competitive market which consists of regional contractors and equipment suppliers, driven by the demand for seafood and sustainable farming practices. Listing on Nasdaq provides access to U.S. capital markets, potentially enabling Megan Holdings to finance technology upgrades and expand geographically within Southeast Asia’s growing aquaculture industry.
TL;DR
Megan Holdings Limited began trading on Nasdaq (MGN) on September 26, 2025, at US$6.94 per share (73.50% above the US$4.00 offering price). The company raised US$5 million to support marketing, mergers and acquisitions, Smart Farming System development, and working capital. Prior to its listing, its FY 2024 revenue was MYR 60.29 million with net earnings of MYR 4.78 million. The aquaculture services provider aims to leverage U.S. market access to support expansion and technology initiatives.
