KUALA LUMPUR: Farm Price Holdings Bhd has entered into an underwriting agreement with Alliance Islamic Bank Bhd in conjunction with its initial public offering (IPO) on the ACE Market of Bursa Malaysia.

       In a statement, the Johor-based wholesaler and retailer of fresh vegetables, food and beverage products and other groceries said the IPO exercise comprises a public issuance of 102 million new ordinary shares, representing 22.67% of its enlarged share capital, as well as an offer for sale of 33 million existing shares, or 7.33% of its enlarged share capital, via private placement to selected investors.