SINGAPORE, March 29 (Bernama) — DagangHalal plans to raise about four million pounds (RM24 million) from a planned Initial Public Offering (IPO) on the London Stock Exchange (LSE).
DagangHalal aims to be listed on the AIM, the LSE’s international market for smaller growing companies.
“We are trying very hard to get our shares floated. We are in the final stage of doing so and it now depends on the Exchange,” said chief executive officer, Mohamed Hazli Mohamed Hussain in a recent telephone interview with Bernama.
Asked about a possible listing date as a March deadline is just around the corner, he said the matter was beyond DagangHalal’s control.
“But we are on track for an eventual listing,” he added.
The AIM is the most successful growth market in the world and since its launch in 1995, over 3,600 companies globally, have chosen to join it.
A quick check on LSE website showed there are four new companies to be listed on the AIM from today till March 31. DagangHalal is not among them.
The Malaysia-based company has its main objective of providing a single platform for the ease of worldwide Muslims to source and promote quality Halal products and services.
It introduced the first and innovative Halal Trade Manager, which is a trading management tool linking up all Halal merchants, products and services with the worldwide Muslim consumer market of 1.8 billion.
Mohamed Hazli said DagangHalal has currently an exclusive collaboration with Department of Islamic Development Malaysia (JAKIM), to develop the global halal industry.
He added that only Halal Verified suppliers are allowed to join DagangHalal to ensure their genuineness as sellers.
Halal Verified is the status awarded to merchants who gets the Halal Certificate from JAKIM and 52 other halal certified bodies.
DagangHalal’s halal food category ranges from beverages, bread, biscuits & pastry, dairy products, food additives, frozen food, honey products, meat, poultry to halal consultancy and service agencies.
Marketing experts estimate the halal segment to be worth US$2.1 trillion and growing by US$500 billion annually.
DagangHalal will be hosting the first ever halal supermarket at the Food & Hotel Asia 2016 tradeshow to be held here over five days from April 12.
Mohamed Hazli said attendees will get to source for halal-certified ingredients and supplies from all over the world and not only from Malaysia.
To make a transaction, buyers and sellers can access www.daganghalal.com.