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Malaysian bubble tea chain postpones IPO due to COVID

Loob CEO says company to remain private until 'mid-next year or later'

The Malaysian stock exchange has not had any new listings since March 23 and will have to wait until next year to see Loob.   © Reuters

KUALA LUMPUR -- Malaysia's Loob Holding, which owns the Tealive bubble tea brand, is postponing its planned initial public offering slated for this year to at least mid-2021, citing weak market sentiment.

"We have delayed our IPO to next year because market sentiment is not right," Loob Holding CEO Bryan Loo told DealStreetAsia. "And we want to ramp up [a] few new business funnels before listing next year. Definitely mid-next year or later."

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