KUALA LUMPUR: Loob Bhd, the operator of Tealive and Bask Bear, is preparing to list on the Main Market of Bursa Malaysia, The Edge Malaysia reported on Thursday.
The IPO proceeds will go towards opening 12 new Tealive and 13 Bask Bear outlets, as well as repaying existing borrowings, according to its draft prospectus.
The exercise involves a public issue of 58.46 million new shares and an offer for sale of 292.3 million existing shares, totalling 30% of Loob’s enlarged share base.
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Major shareholder Uttama Ltd will offer the bulk of shares in the sale, while post-listing, Maybank Investment Bank and AmInvestment Bank will serve as joint bookrunners and underwriters.