Tealive’s owner Loob plans RM300mil IPO

KUALA LUMPUR: Loob Holding Sdn Bhd, which owns the Tealive bubble tea brand, is planning a Malaysian initial public offering that could raise as much as RM300mil, according to people with knowledge of the matter.

The Kuala Lumpur-based company has hired advisers for the planned share sale, according to the people, asking not to be named as the information is private.

The firm is considering seeking a valuation of as much as RM1bil and targets a listing next year, the people said.

Bryan Loo, Loob Holding’s chief executive officer, confirmed the company is planning to list in the first half of next year.

“We have engaged corporate advisers for this exercise,” Loo said in an emailed response to Bloomberg queries.

“We cannot confirm the valuation sought nor the IPO portion, pending final recommendations from our advisers.” — Bloomberg

Source: TheStar