Butterfield FB IPO oversubscribed 18.7 times

Butterfield FB Bhd executive director and chief executive officer Lee Mong Khai.

KUALA LUMPUR: Butterfield FB Bhd’s initial public offering (IPO) has been oversubscribed by 18.7 times ahead of its ACE Market debut on Sept 15.

The coffee and tea extract powder blends manufacturer, in a statement, said it received 12,670 applications for 786.67 million shares worth about RM377.6mil for the 40 million shares offered to the Malaysian public.