MALAYSIA:TBI TAB FOOD INVESTMENTS LAUNCHES IPO

KUALA LUMPUR– TFI Tab Food Investments Inc. (TFI) has launched an initial public offering (IPO) of 22,000,000 American Depositary Shares (ADSs), with each ADS representing 12 ordinary shares.

These include 4,500,000 ADSs to be sold by the company and 17,500,000 ADSs to be sold by certain existing shareholders.

In a statement, TFI said the price range of the IPO was estimated at between US$9.00 and US$11.00 per share and underwriters would have an option to purchase up to an additional 3,300,000 ADSs from certain existing shareholders.

TFI will use the net proceeds received to repay a portion of outstanding debts and will not receive any proceeds from the ADSs sold by the selling shareholders.

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC, act as bookrunning managers and representatives of the underwriters, while Citigroup Global Markets Inc. and J.P. Morgan Securities LLC act as bookrunners, and Rabo Securities U.S.A., Inc. as co-manager for the proposed offering.

Source: NAM NEWS NETWORK