OB Holdings inks underwriting agreement for ACE Market IPO

From left: OB Holdings Bhd executive director Lee Bao Yu, OB Holdings managing director Teoh Eng Sia, Alliance Islamic Bank Bhd chief executive officer Rizal IL-Ehzan Fadil Azim and Alliance Islamic Bank senior vice president, head of corporate finance Tee Kok Wah.

PETALING JAYA: OB Holdings Bhd, a food and beverages (F&B) and dietary supplements manufacturing services provider, has entered into an underwriting agreement with Alliance Islamic Bank Bhd in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.

In a statement, OB Holdings said its IPO exercise encompasses a public issuance of 120 million new ordinary shares, representing 30.6% of its enlarged issued share capital.