PETALING JAYA: Maybank Investment Bank Bhd, the stabilising manager for Farm Fresh Bhd’s initial public offering (IPO), has ceased the stabilising action for the company as of yesterday – being the end of the stabilising period of 30 days.

       The company said in a filing with the stock exchange that during the stabilising period of between March 22 and April 21, Maybank IB had not purchased any shares pursuant to the stabilising action as the stock has been trading above the IPO price of RM1.35 per share.

       Accordingly, Maybank IB has fully exercised the over-allotment option of 44.6 million shares granted by Rainforest Capital Sdn Bhd, Farmchoice Foods Sdn Bhd and Agrifood Resources Holdings Sdn Bhd.