Agroz Inc (NASDAQ: AGRZ), an innovative agricultural technology company, saw its stock surge 7.69% in after-hours trading on Wednesday, building on its strong Nasdaq debut earlier in the day. The impressive after-hours performance follows the company's successful initial public offering (IPO), which was priced at $4.00 per share, raising a total of $5 million.
The Malaysia-based company, which specializes in advancing food security through indoor Controlled Environment Agriculture (CEA) vertical farms, made its mark on the Nasdaq exchange with a 6.02% gain during regular trading hours. Agroz's proprietary Agroz Farm Operating System (Agroz OS) integrates IoT, data analytics, 5G communications, and automated hardware to optimize vertical farming operations. The company is currently developing a next-generation version of Agroz OS that incorporates an advanced AI agent system supported by Microsoft Azure AI, aimed at enabling autonomous operation of vertical farms.
VCI Global Limited (NASDAQ: VCIG), through its capital advisory arm V Capital Consulting Group, played a crucial role in facilitating Agroz's Nasdaq listing. This marks VCI Global's second Nasdaq IPO in six months, underscoring its growing influence in cross-border capital markets. The successful IPO not only provides Agroz with the capital to expand its operations but also increases its visibility in the global agricultural technology sector, potentially driving further investor interest and growth opportunities in the rapidly evolving field of AI-driven agriculture and food security solutions.