GB Bond’s Malaysian Public IPO Portion Oversubscribed 8.22 Times

KUALA LUMPUR, Sept 22 (Bernama) -- The Malaysian public portion of GB Bond Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 8.22 times, ahead of its listing on the ACE Market of Bursa Malaysia on Oct 1, 2026.

The industrial adhesives, emulsion polymers and sealants manufacturer received 5,333 applications for 190.02 million shares, compared with 20.61 million shares made available to the Malaysian public.

The Bumiputera public portion was oversubscribed by 5.54 times after receiving 2,241 applications for 67.44 million shares, while the other Malaysian public portion was oversubscribed by 10.89 times, with 3,092 applications for 122.58 million shares.

In a statement today, managing director Datuk Gooi Ching Koay said the company was encouraged by the response and thanked investors for their interest in GB Bond.

“The response reflects investors’ recognition of our operating track record, manufacturing capabilities and growth plans.

“The IPO proceeds will support the expansion of our production capacity, strengthen our product formulation capabilities and support our expansion into Vietnam as we continue to grow our customer base in Malaysia and overseas,” he said.

GB Bond’s IPO comprises a public issue of 64.30 million new ordinary shares and an offer for sale of 42.88 million existing shares at 25 sen per share.

The public issue is expected to raise gross proceeds of approximately RM16.08 million, mainly for the rental of a new factory and purchase of machinery, expansion into Vietnam, working capital and product-formulation equipment.

Upon listing, GB Bond will have an enlarged issued share capital of 412.30 million shares and a market capitalisation of approximately RM103.08 million.

Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.

-- BERNAMA