GB Bond Receives Bursa Malaysia Approval For ACE Market Listing
KUALA LUMPUR, July 8 (Bernama) -- GB Bond Holdings Bhd, a Penang-based manufacturer of water-based industrial adhesives, emulsion polymers and sealants, has obtained Bursa Malaysia Securities Bhd's approval for its initial public offering (IPO) ahead of its listing on the ACE Market of Bursa Malaysia.
The listing is tentatively scheduled for the third quarter of 2026.
In a statement today, the company said the IPO comprises a public issue of 64.3 million new shares and an offer for sale of 42.88 million existing shares.
Upon completion, GB Bond's enlarged issued share capital will increase to 412.3 million shares, while the issue price and application period will be announced in the prospectus to be issued at a later date.
"Over the past 25 years, we have built our business around technical formulation, product consistency and long-term customer relationships.
"The proposed listing will give us a stronger platform to expand capacity, strengthen our regional presence and support the next phase of growth," said managing director Datuk Gooi Ching Koay.
The group's products are used across several industrial applications, including paper and packaging, fabric lamination, woodworking, building materials, as well as construction and renovation applications for sealants.
For the financial year ended Dec 31, 2024, the company posted revenue of RM56.34 million and a gross profit of RM21.60 million, translating into a gross profit margin of 38.33 per cent.
It served over 1,000 customers during the year, with recurring customers accounting for 85.87 per cent of its customer base, while no single customer contributed more than 10 per cent of its total revenue.
The IPO proceeds will primarily fund the group's expansion plans, including the rental of a new factory and purchase of machinery and equipment to expand manufacturing capacity, setting up a sales office in Vietnam, purchasing product formulation equipment, marketing activities, working capital and listing expenses.
The Vietnam office is expected to enhance customer servicing, order processing and logistics coordination.
Malacca Securities Sdn Bhd will act as principal adviser, sponsor, underwriter and placement agent for the proposed listing exercise.
-- BERNAMA