The Bestari Food IPO has cleared its first major hurdle. The food premix producer, which makes the popular Bestari fried chicken coating mix, won approval for its proposed Main Market listing on Bursa Malaysia. The Shariah Advisory Council of the Securities Commission Malaysia (SC) has also classified it as shariah-compliant.
Is the Bestari Food IPO Approved for the Main Market?
Yes. The securities regulator approved the proposed Main Market listing, announced on 23 October.
Managing director Lai Kok Siong said the listing will give the group “a stronger platform to support our next phase of growth” and lift brand visibility for its food premix products.
What Does Bestari Food Make and Who Buys It?
Bestari Food is a Selangor-based producer and supplier of premixed ingredients for food preparation. It sells to retail consumers as well as commercial customers, including food manufacturers, restaurants, hotels and caterers.
The Bestari brand includes its popular fried chicken coating mix, which is the product most consumers will recognise.
How Much of Bestari Food Is Being Sold in the IPO?
The IPO combines a public issue of new shares with an offer for sale of existing shares. Together they make up 29.6% of the enlarged share capital.
Core Perpetual Sdn Bhd, owned by Lai and four other shareholders, will retain a 70.4% stake after listing. The existing majority holder stays firmly in control.
Where Will Bestari Food Spend the IPO Proceeds?
Part of the proceeds will fund land acquisition and a new manufacturing facility in Banting, Selangor. The company will also buy additional machinery to increase production capacity.
Lai said these initiatives will position the group “to capture further opportunities within the food premixes industry.”
What Is Still Missing From the Bestari Food IPO Details?
The statement leaves out several key numbers. No IPO timeline was disclosed, so the dates below remain open.
- Market: Main Market (approved)
- Offer price per share: not disclosed
- Total funds raised: not disclosed
- Subscription period: not disclosed
- Tentative listing date: not disclosed; completion is required within six months of approval
- Revenue, profit and EPS: not in the statement
- Valuation against peers: not in the statement
The Edge has separately reported that Bestari Food filed a draft prospectus. The prospectus is where financial track record and valuation details are normally set out.
What Are the Key Risks in the Bestari Food IPO?
The biggest open question is timing. Without a disclosed timeline, the six-month completion window is the only firm deadline.
RHB Investment Bank Bhd is the principal adviser, sole underwriter and sole placement agent. With Core Perpetual keeping 70.4%, the portion of shares open to other investors is limited to the 29.6% offered.
How to Apply for the Bestari Food IPO
No subscription window has been announced, so there is nothing to apply for yet. When applications open, apply through the M+ Global app using Invitation Code UBZQ. The old M+ Online app stopped working on 19 December 2025, so do not use it. Read the Switch to M+ Global guide if you still use the old app.
Online IPO applications need a direct CDS account in your own name. Only one application is allowed per IPO, as multiple applications are an offence under the Capital Markets and Services Act 2007. If the IPO is oversubscribed, retail portions are balloted. For assistance, WhatsApp +60169059789.
Key Takeaways
- Bestari Food Bhd has Main Market approval and shariah-compliant status.
- The IPO offers 29.6% of the enlarged share capital through new shares and an offer for sale.
- Core Perpetual Sdn Bhd keeps a 70.4% stake after listing.
- Proceeds will fund a Banting, Selangor factory, land and machinery.
- Offer price, funds raised, subscription dates and listing date are still undisclosed.
Disclaimer: This article is for information only and is not investment advice. Do your own research, read the prospectus once published, and consider your own risk profile before making any decision.
Frequently Asked Questions
Is the Bestari Food IPO approved for Main Market listing?
Yes. Bestari Food Bhd received approval from the securities regulator for its proposed Main Market listing. The Shariah Advisory Council of the Securities Commission Malaysia has also classified it as shariah-compliant.
How much of Bestari Food is being sold in the IPO?
The IPO combines new shares and an offer for sale totalling 29.6% of the enlarged share capital. Core Perpetual Sdn Bhd will keep 70.4% after listing.
When is the Bestari Food IPO listing date?
No timeline has been disclosed. The company must complete the IPO within six months of approval.
How do I apply for the Bestari Food IPO?
Applications are not open yet. When they are, apply through the M+ Global app with Invitation Code UBZQ, and remember that only one application is allowed per IPO.
What will Bestari Food use its IPO money for?
Part of the proceeds will buy land and build a new manufacturing facility in Banting, Selangor. The rest of the plan includes buying machinery to increase production capacity.
Source: View Original Article — The content is based on the original publisher. Refer to the original content for accurate info. Contact us for any changes.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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