Penang-based industrial adhesives manufacturer GB Bond Holdings Bhd is targeting a listing on the ACE Market of Bursa Malaysia in the third quarter of 2026 (3Q26) after securing regulatory approval for its proposed IPO.
The group’s IPO exercise comprises a public issue of 64.3 million new ordinary shares and an offer for sale of 42.88 million existing shares. Upon completion, GB Bond will have an enlarged issued share capital of 412.3 million shares. The issue price and application period will be announced in the prospectus at a later date.
Managing Director Datuk Gooi Ching Koay said the proceeds from the IPO will primarily fund the rental of a new factory, the purchase of machinery and equipment to expand production capacity, the establishment of a sales office in Vietnam, product formulation equipment, marketing activities, working capital and listing expenses.
GB Bond manufactures water-based industrial adhesives, emulsion polymers and sealants used across industries including paper and packaging, fabric lamination, woodworking, building materials and construction.
For the financial year ended Dec 31, 2024, the group posted revenue of RM56.34 million and a gross profit of RM21.60 million, translating into a gross profit margin of 38.33%. It served more than 1,000 customers during the year, with recurring customers accounting for 85.87% of its customer base and no single customer contributing more than 10% of revenue.
Malacca Securities Sdn Bhd is the principal advisor, sponsor, underwriter and placement agent for the IPO.
