Malaysia Bubble Tea Chain Plans $72 Million IPO Next Year

Loob Holding Sdn., which owns the Tealive bubble tea brand, is planning a Malaysian initial public offering that could raise as much as 300 million ringgit ($72 million), according to people with knowledge of the matter.

The Kuala Lumpur-based company has hired advisers for the planned share sale, according to the people, asking not to be named as the information is private. The firm is considering seeking a valuation of as much as 1 billion ringgit and targets a listing next year, the people said.