OB Holdings Berhad, a provider of fortified food and beverages (F&B) and dietary supplements manufacturing services, has received approval from Bursa Malaysia Securities Berhad to list on the ACE Market of Bursa Securities.
The approval paves the way for OB Holdings to embark on its initial public offering (IPO), which involves a public issue of 120.00 million new ordinary shares, representing 30.64% of its enlarged issued share capital.
OB Holdings, operating through its subsidiaries, specialises in manufacturing fortified F&B and dietary supplements for third-party brand owners.
Its diverse range of products includes fruit-based beverages, milk-based products, herb-based formulations, collagen-based items, and various other dietary supplements.
In addition to catering to third-party brands, OB Holdings also markets its own fortified F&B and dietary supplements under house brands such as Bonlife, GoHerb, Kids Vite, and Zen Night.
OB Holdings, Managing Director, Teoh Eng Sia expressed the company’s commitment to providing comprehensive manufacturing services, covering everything from product formulation to delivery. With over 900 formulations of fortified F&B and over 100 formulations of dietary supplements, the company aims to meet the diverse needs of consumers across different demographics and lifestyles.
The IPO approval signifies a significant milestone for OB Holdings, allowing the company to fuel its growth plans. The proceeds from the IPO will be allocated towards various purposes, including repayment of bank borrowings, purchase of machines, product development, marketing, and working capital requirements.
Both of OB Holdings’ factories, located in Selayang and Serendah, Selangor, adhere to Good Manufacturing Practice (GMP), Halal, and Hazard Analysis and Critical Control Points (HACCP) practices.
Moreover, the company exports its products to several countries, including Hong Kong, Thailand, Singapore, China, Australia, and Taiwan.
Barring any unforeseen circumstances, OB Holdings aims to be listed on the ACE Market of Bursa Securities in the fourth quarter of 2024. Alliance Islamic Bank Berhad is serving as the Principal Adviser, Sponsor, Sole Underwriter, and Placement Agent for the IPO exercise.
