GB Bond Holdings Bhd, a Penang-based manufacturer of water-based industrial adhesives, emulsion polymers and sealants, has received the go-ahead from Bursa Malaysia Securities Bhd for its proposed listing on the ACE Market.
The group is tentatively scheduled to make its market debut in 3Q 2026.
Its proposed initial public offering (IPO) entails a public issue of 64.3 million new shares and an offer for sale of 42.88 million existing shares.
Upon completion of the IPO, GB Bond’s enlarged issued share capital will comprise 412.3 million shares. Further details of the IPO, including the issue price and application period will be set out in the prospectus to be issued in due course.
“The market regulator’s approval marks an important step in GB Bond’s corporate journey,” commented GB Bond’s managing director Datuk Gooi Ching Koay.
“Over the past 25 years, we’ve built our business around technical formulation, product consistency and long-term customer relationships.”
Added Gooi: “The proposed listing will give us a stronger platform to expand capacity, strengthen our regional presence and support the next phase of growth.”
Sales expansion to Vietnam
With an operating history of approximately 25 years, GB Bond has developed an integrated manufacturing model combining in-house emulsion polymer production with the formulation of industrial adhesives and sealants.
The group’s products are used across several industrial applications, including paper and packaging, fabric lamination, woodworking, renovation and building materials as well as construction and renovation applications for sealants.\
GB posted a revenue of RM56.34 mil and gross profit of RM21.60 mil which represented a gross profit margin of 38.33% for its FYE2024 ended Dec 31, 2024.
The group served more than 1,000 customers during the year with recurring customers accounting for 85.87% of its customer base. No single customer accounted for more than 10% of the group’s revenue.
Proceeds from its public issue are intended to be utilised mainly for the group’s business expansion plans, including the rental of a new factory and purchase of machinery and equipment.
This falls in line with the group’s expansion of its manufacturing capacity, the establishment of a sales office in Vietnam, purchase of product formulation equipment, marketing activities, working capital and estimated listing expenses.
The planned new factory is expected to support the group’s manufacturing capacity expansion for industrial adhesives and sealants while the proposed Vietnam office is intended to strengthen GB Bond’s customer servicing, order processing and logistics coordination in the market.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO. – July 8, 2026
