GB Bond Holdings Bhd has signed an underwriting agreement with Malacca Securities Sdn Bhd for its proposed listing on Bursa Malaysia’s ACE Market.
The industrial adhesives, emulsion polymers and sealants manufacturer’s IPO comprises a public issue of 64.3 million new shares, representing 15.6% of its enlarged share capital, and an offer for sale of 42.88 million existing shares, or 10.4%.
Of the new shares, 20.62 million will be offered to the Malaysian public, 4.12 million reserved for eligible persons and 39.56 million placed with Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
Upon completion, GB Bond will have an enlarged issued share capital of 412.3 million shares.
Under the agreement, Malacca Securities will underwrite 24.74 million new shares allocated to the Malaysian public and eligible individuals.
Managing Director Datuk Gooi Ching Koay said the proceeds raised from the IPO will be used to expand manufacturing capacity, establish a stronger presence in Vietnam, enhance product development, fund working capital and marketing initiatives and cover listing expenses.
Malacca Securities is acting as principal advisor, sponsor and placement agent for the exercise.
