GB Bond Holdings Bhd, a manufacturer of industrial adhesives, emulsion polymers and sealants with 25 years of operating history, has signed signing of an underwriting agreement with Malacca Securities Sdn Bhd in conjunction with its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.
Malacca Securities has been appointed as the principal adviser, sponsor, underwriter and placement agent for the listing exercise.
Based on the proposed structure, GB Bond’s IPO comprises a public issue of 64.3 million new shares which represent 15.6% of its enlarged issued share capital and an offer for sale of 42.88 million existing shares which constitute 10.4% of the group’s enlarged share capital.
Upon completion of its IPO exercise, the Penang-based company will have an enlarged issued share capital of 412.3 million shares.
The 64.3 million new shares will be allocated in the following manner:
- 20.61 million new shares will be made available for application by the Malaysian public.
- 4.12 million new shares will be reserved for eligible directors, employees and persons who have contributed to the group’s success.
- 39.56 million new shares will be offered via private placement to Bumiputera investors approved by the Investment, Trade and Industry Ministry (MITI).
Meanwhile, the group’s offer-for-sale of 42.88 million shares will be placed out as follows:
- 11.97 million existing shares approved by MITI for Bumiputera investors.
- 30.9 million existing shares to selected investors.
Pursuant to the underwriting agreement, Malacca Securities will underwrite the 24.74 million new shares made available to the Malaysian public and eligible persons.
“As our business continues to scale, we have strengthened our competitive advantage through a highly experienced product formulation team equipped with valuable technical expertise and industry knowledge,” commented GB Bond’s managing director Datuk Gooi Ching Koay.
“Our technical capabilities coupled with deep market understanding form a strong foundation for sustainable growth and re-affirm our position as a trusted solutions provider within the industry.”
On the group’s aspirations and its next business journey chapter as it progresses towards its proposed listing on the ACE Market, Gooi added:
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.
The proceeds raised from the public issue are expected to be strategically deployed to support GB Bond’s next phase of growth.
This includes the group’s 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. – July 31, 2026
