Butterfield FB Berhad has entered into an underwriting agreement with M & A Securities Sdn Bhd in conjunction with its upcoming initial public offering on the ACE Market of Bursa Malaysia Securities Berhad.
BFB, through its subsidiaries manufactures coffee extract powder blends and tea extract powder blends, providing customers with end-to-end solutions from formulation and manufacturing to distribution. The Group also sells and trades food ingredients and instant beverage premixes.
Executive Director cum Chief Executive Officer of BFB, Lee Mong Khai “The funds raised through our IPO will be mainly allocated to expand our production and storage capacity at our Bukit Minyak premises, including the installation of a new manufacturing line. These investments will enable BFB to meet growing demand, improve operational efficiency, and further enhance our ability to serve both domestic and international customers.”
BFB’s IPO exercise comprises a public issuance of 150.0 million new ordinary shares representing 18.8% of its enlarged share capital, as well as an offer for sale of 72.0 million existing shares or 9.0% of its enlarged share capital, via private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry and selected investors.
Pursuant to the underwriting agreement, M&A Securities shall underwrite 56.0 million new shares made available to the Malaysian Public and Pink Form Allocations.
BFB is scheduled to be listed on the ACE Market of Bursa Securities by September 2026, with M&A Securities as the Principal Adviser, Sponsor, Sole Underwriter and Placement Agent for the IPO Exercise.
