Malaysian edible bird nest products maker plans US$30m Nasdaq IPO

KUALA LUMPUR: 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 US$30mil through the offering of a 30% 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. - Reuters