GB Bond prices IPO at 25 sen a share, to raise RM16.08mil for expansion

KUALA LUMPUR: Industrial adhesive producer GB Bond Holdings Bhd has launched its initial public offering (IPO) at a price of 25 sen per share, aiming to raise RM16.08 million for growth initiatives. The Penang-based firm will issue 64.3 million new shares, set to be listed on the ACE Market of Bursa Malaysia on October 1, according to its prospectus.

With the increased share capital of 412.3 million, GB Bond's market capitalization will stand at RM103.08 million. Of the raised funds, RM5.5 million will be allocated for a new factory and machinery, while RM3.5 million will support expansion into Vietnam. The company intends to rent a 40,000-square-foot factory near its Bukit Panchor headquarters and install new production equipment, boosting its industrial adhesive production capacity by 35.31% to 31,971.3 tonnes.

Its sealant capacity will also triple to 1,422 tonnes. Additional funds will be used for working capital, product formulation equipment, marketing, and listing expenses. GB Bond primarily manufactures and sells industrial adhesives, emulsion polymers, and sealants, with industrial adhesives generating 92.89% of its RM52.44 million revenue in the fiscal year ending December 31, 2025.

For the May 31, 2026 quarter, the segment contributed RM22.65 million to the RM24.35 million revenue. GB Bond's revenue increased 12.34% to RM24.35 million in the five months, while profit after tax rose 17.98% to RM4.55 million. The IPO also includes an offer for sale of 42.88 million existing shares by managing director Datuk Gooi Ching Koay, along with a total of 107.18 million shares offered under the IPO.

Applications opened today and close on September 18, with balloting on September 22 and allotment on September 29. Malacca Securities Sdn Bhd serves as the principal adviser, sponsor, underwriter, and placement agent for the IPO.