KUALA LUMPUR: GB Bond Holdings Bhd has got the nod from Bursa Malaysia to list on the ACE Market, tentatively in the third quarter of financial year 2026.
The Penang-based manufacturer of water-based industrial adhesives, emulsion polymers and sealants said the proposed initial public offering (IPO) entails a public issue of 64.3 million new shares and an offer for sale of 42.88 million existing shares.
Upon completion, GB Bond’s enlarged issued share capital will increase to 412.3 million shares, while the issue price and application period will be announced in the prospectus to be issued at a later date.
“Over the past 25 years, we have built our business around technical formulation, product consistency and long-term customer relationships.
“The proposed listing will give us a stronger platform to expand capacity, strengthen our regional presence and support the next phase of growth,” said managing director Datuk Gooi Ching Koay in a statement.
The proceeds from the public issue will go towards the group’s business expansion plans, including the rental of a new factory and the purchase of machinery and equipment to expand manufacturing capacity of industrial adhesives and sealants.
The group will also utilise the funds to establish a sales office in Vietnam, purchase product formulation equipment, marketing activities, working capital and estimated listing expenses.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
Furthermore, for the financial year ended Dec 31, 2024, GB Bond recorded a revenue of RM56.34mil and gross profit of RM21.6mil.
