Ellipsiz Unit Breaks Ground on Smart Egg Farm; Shares Zoom 15%
MT Newswires
Sep 29
Ellipsiz (SGX:BIX) subsidiary ISE Food Holdings broke ground on DoMo Farm, an egg farm in Lim Chu Kang, according to a Tuesday filing with the Singapore Exchange.
The facility is co-invested by Unicore Agri and Vertex Holdings via Vertex Exploratory Fund and is built to produce more than 500 million eggs annually.
Construction of the first phase is expected to take around two years, with eggs expected to reach store shelves in 2028.
The development is partially financed by a term loan facility from Maybank of up to SG$65 million.
Shares of the company surged nearly 15% in Tuesday trading.
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