PETALING JAYA: GB Bond Holdings Bhd, a manufacturer of industrial adhesives, emulsion polymers and sealants, has signed an underwriting agreement with Malacca Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.
Malacca Securities has been appointed principal adviser, sponsor, underwriter, and placement agent for GB Bond’s listing.
GB Bond’s IPO comprises a public issue of 64.3 million shares, representing about 15.6% of its enlarged issued share capital, and an offer for sale of 42.8 million shares, which is about 10.4% of the enlarged share capital. Upon completion of the IPO, GB will have an enlarged issued share capital of 412.3 million shares.
From the 64.3 million shares, 20.6 million shares will be made available for application by the Malaysian public, while 4.12 million shares will be reserved for eligible directors, employees, and persons who have contributed to the group’s success.
Further, 39.5 million shares will be offered via private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti).
In addition, the group is allocating 42.8 million offer-for-sale shares, whereby 11.9 million shares are approved by Miti for Bumiputera investors.
A further 30.9 million shares are allocated to selected investors.
Malacca Securities will underwrite the 24.7 million shares to be made available to the Malaysian public and eligible persons.
GB Bond managing director Datuk Gooi Ching Koay said that as business continues to scale, the group has strengthened its competitive advantage through a highly experienced product formulation team equipped with valuable technical expertise and industry knowledge.
“Our technical capabilities, coupled with deep market understanding, form a strong foundation for sustainable growth and reaffirm our position as a trusted solutions provider within the industry.
“We look forward to embarking on the next chapter of our business journey as we progress towards our proposed listing on the ACE Market.
“This reflects the culmination of our preparation, capabilities, and collective efforts, as we transition from planning to execution with a clear focus on building a stronger foundation for sustainable growth.
“With the underwriting structure now firmly in place, we remain committed to advancing the IPO process in an orderly and disciplined manner as we move towards the upcoming prospectus launch and the subsequent listing milestones,“ he said.
Proceeds raised from the public issue are expected to be deployed to support GB Bond’s next phase of growth, including the expansion of its manufacturing capacity, establishment of a stronger presence in Vietnam, enhancement of product development capabilities, working capital requirements, marketing initiatives, and listing expenses.
