Tealive owner Loob Berhad seeks Main Market listing

Loob, the parent company of tea and coffee beverage chains Tealive and Bask Bear is preparing to list on the Main Market of Bursa Malaysia, according to a prospectus exposure filing seen on the Securities Commission website. The listing is aimed at partly financing the capital expenditure required to open up to 12 new Tealive stores and up to 13 new Bask Bear stores throughout Malaysia

The proposed initial public offering (IPO) includes an offer of up to 350.76 million ordinary shares in Loob, comprising an offer for sale of up to 292.3 million in offer shares and 58.46 million in public shares. 

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According to the draft prospectus, the investment holding company is also looking to continue its store expansion in Malaysia and internationally into new markets. The document also outlined Loob's plans to increase same-store sales to drive increased consumption and profitability, introduce new fast moving consumer goods (FMCG) range including nine stock keeping units (SKUs) by June 2025, continued innovation, and further expansion of its brand portfolio. 

Within its business overview, Loob Berhad said according to the IMR Report, Tealive is the largest player within the F&B services industry and the tea shops segment in Malaysia by number of stores and revenue in 2024. The group also had 831 Tealive stores and 135 Bask Bear stores as of February this year. Besides that, it also operates 121 Tealive franchised stores in Myanmar, Vietnam, the Philippines, Brunei, Mauritius, Cambodia, Canada, Singapre, and UAE. 

Loob also noted that it has been actively driving growth through creative collaborations, through co-branding initiatives, recipe collaborations, strategic collaborations and intellectual property partnerships with well-known brands to enhance its brand awareness and grow its customer base.

It listed several examples, including its tie-up with Unilever's Wall's, Secret Recipe Malaysia, myBurgerLab, Santan. It also pointed out that it leverages intellectual property rights to use popular characters in its marketing and branding efforts, such as with Squid Game, Joker-Batman-Harley Quinn, Kuromi and Pokémon for Tealive.

As listed out in its draft prospectus, Loob is set to appoint Rebecca Fatima Sta Maria as its independent non-executive chairperson, Loo Chuu Lin as its non-independent non-executive director, Bryan Loo as its non-independent executive director and CEO, as well as Loo Chee Leng as its non-independent executive director and COO. For the financial year ended 30 June 2024, Loob reported a net profit of RM51.6 million against a revenue of RM591.2 million.

When reached out to by A+M, Loob said in a statement: "We appreciate the interest shown and understand there may be questions following its release. However, at this stage, we will not be providing further comments beyond what is disclosed in the draft prospectus. We remain focused on ensuring full compliance with regulatory requirements and will make additional announcements at the appropriate times."

In 2022, Loob Holding's CEO Loo said in a Reuters interview that Tealive was revisiting plans for an IPO "if the timing and pricing are attractive" should it hit 1,000 stores in Malaysia by 2024. Near the end of that year, the bubble tea chain opened its 800th store in the country, which is a thru outlet at Ikano Centres Batu Kawan. Loo explained that Tealive's funding options have "indeed widened very much" ever since private equity firm Creador snapped up a 30% stake in Loob Holding in June 2021.

Following news of the IPO, Tealive officially entered the FMCG market with the launch of its first 3-in-1 sachet beverage range, which includes milk tea, coffee, and chocolate variants earlier this week too.The new range will be available exclusively at AEON and Tealive stores nationwide, plus e-commerce from 15 June, before expanding to more retail channels in July. Each box, priced at RM12.90, contains five to six sachets.

“We knew our sachets had to do more than just taste good. They have to evoke the full Tealive brewing positivity experience with every sip. With that, we’ve invested in sourcing high-quality ingredients and flavour profiles that mirror what you’d taste in our outlets," said Loo.

He added that Tealive’s sachet drinks are positioned to stand out in a competitive FMCG landscape. Loo cited the brand’s trust, flavour innovation, ingredient integrity, and emotional connection with consumers as key differentiators. “We’ve built Tealive as a lifestyle brand, not just a product. That connection ensures repeat purchases and long-term loyalty. Furthermore, it’s not just about making it convenient, it’s about showing that Malaysian-made can mean world-class," he added. 

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