Butterfield to raise RM72mil from its IPO

From left: Butterfield FB Bhd executive director Lee Chan Hua, Butterfield FB executive director Yeap Chin Loon, Butterfield FB executive director cum CEO Lee Mong Khai, Butterfield FB independent non-executive chairman Datuk Seri Lee Kah Choon, Butterfield FB non-independent non-executive deputy chairman Yeap Kim Siew, M & A Equity Holdings Bhd managing director Datuk Bill Tan Choon Peow and M & A Securities Sdn Bhd head of corporate finance Gary Ting Hua Tai.

KUALA LUMPUR: Butterfield FB Bhd (BFB) aims to raise RM72mil from its initial public offering (IPO) en route to listing on the ACE Market of Bursa Malaysia on Sept 15, 2026.

The manufacturer of coffee and tea extract powder blends said in a statement that RM15.2mil from the proceeds will be used to expand the group’s headquarters at Bukit Minyak, Penang.

The expansion will add approximately 29,170 sq ft of production space and 9,954 sq ft of storage space.

Upon listing, BFB is expected to have a market capitalisation of RM384mil based on an enlarged issued share capital of 800 million shares and an IPO price of RM0.48 per share.

M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO exercise. —Bernama