PETALING JAYA: OB Holdings Bhd, a food and beverage and dietary supplements manufacturing services provider, has entered into an underwriting agreement with Alliance Islamic Bank Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.
In a statement, OB Holdings said its IPO exercise encompassed a public issuance of 120 million new ordinary shares, representing 30.6% of its enlarged issued share capital.
Of these, 19.6 million shares will be made available for application by the public via balloting, and 7.8 million shares will be allocated to its eligible directors, employees and individuals who have contributed to the success of OB Holdings and its subsidiaries or pink form allocations.
Meanwhile, 43.6 million shares will be allocated for selected investors via private placement with the remaining 49 million shares will be offered via private placement to identified bumiputra investors approved by the Investment, Trade and Industry Ministry.
Under the agreement, Alliance Islamic Bank will underwrite 19.6 million shares allocated to the public and 7.8 million shares for the pink form allocation.
