KUALA LUMPUR (Sept 9): GB Bond Holdings Bhd has priced its initial public offering (IPO) at 25 sen per share to raise RM16.08 million for expansion, including the rental of a new factory and the purchase of machinery.
The industrial adhesive maker said in its official prospectus that the IPO will see issuance of 64.3 million new shares, of which 20.62 million will be available to the public, 4.12 million to employees and directors, and 39.56 million to Bumiputera investors.
Applications for the ACE Market IPO will close on Sept 18, and listing is scheduled for Oct 1.
Of the proceeds, RM5.5 million will be used to start a new factory near its headquarters in Bukit Panchor, Penang, as well as to purchase new machinery to increase manufacturing capacity.
A further RM3.5 million will be used to fund the group’s expansion into Vietnam, which GB Bond has been exporting to since 2009, by establishing an official sales office and warehouse within the first six months of listing.
Vietnam is GB Bond’s second-largest market, making up 5.36% of its revenue in its financial year ended Dec 31, 2025, with the domestic market making up 90.93%.
In addition, the group is also offering for sale 42.88 million existing shares from majority shareholder and managing director Datuk Gooi Ching Koay, which make up 12.32% of the group’s existing share capital.
The sale is expected to generate RM10.72 million, with the proceeds going directly to Gooi.
“Our focus after listing will be on execution. We intend to deploy the proceeds according to the plans set out in our prospectus, deepen our relationships with existing customers and build the capabilities required to support the group’s next phase of growth,” said Gooi.
GB Bond manufactures adhesives for various sectors, including paper and packaging, woodworking, fabric lamination, renovation and glove coatings.
The group announced its intention to enter the ACE Market in January. Upon listing, GB Bond’s enlarged share capital of 412.3 million shares is expected to translate into a market capitalisation of about RM103.08 million.
Malacca Securities is the IPO’s principal adviser, sponsor, underwriter and placement agent.