Butterfield FB Berhad initial public offering has been oversubscribed by 18.7 times, ahead of its listing on the ACE Market of Bursa Malaysia Securities Berhad.
BFB’s IPO exercise comprises a public issuance of 150.0 million new ordinary shares at an issue price of RM0.48 per share. This represents 18.8% of its enlarged share capital, with an expected total of RM72.0 million to be raised from the public issue. Additionally, there is also 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.
For the Malaysian public portion of 40.0 million Issue Shares, BFB received 12,670 applications for a total of 786,674,300 Issue Shares, valued at approximately RM377.6 million for the 40.0 million Issue Shares allocated to the Malaysian public, representing an overall oversubscription rate of 18.7 times.
For the Bumiputera public portion, 7,773 applications for 439,612,700 Issue Shares were received, representing an oversubscription rate of 21.0 times.
For the public portion, 4,897 applications were submitted for 347,061,600 Issue Shares, resulting in an oversubscription rate of 16.4 times.
BFB is scheduled to be listed on the ACE Market of Bursa Securities on 15 September 2026. Upon listing, BFB will have a market capitalisation of approximately RM384.0 mil based on an enlarged share capital of 800.00 million shares and the IPO price of RM0.48 per share.
M & A Securities Sdn Bhd is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise
