Snippets
Techbond en route for a listing on Bursa Malaysia
Focus Malaysia 12 Sep 2018 14:26
Techbond Group Berhad (“Techbond” or the “Company”) (德宝集团), a developer and manufacturer of industrial adhesives and sealants, as well as a provider of supporting products and services, is en route for a listing on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) and has today penned an Underwriting Agreement with Public Investment Bank Berhad (“PIVB”) for its Initial Public Offering (“IPO”) exercise.

The IPO exercise entails a public issue of approximately 60.11 million new ordinary shares, where there will be 11.50 million shares available for application by the Malaysian public, and 6.00 million shares available for application by the eligible directors and employees of the Company and its subsidiaries (“Group”) and other persons who have contributed to the success of the Group, while 23.00 million shares will be made available for application by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry (MITI), Malaysia and the remaining 19.61 million shares will be made available by way of private placement to selected investors.

Pursuant to the Underwriting Agreement, PIVB will underwrite a total of 17.20 million shares made available for the Malaysian public, the Group’s eligible employees, and other persons who have contributed to the success of the Group.

PIVB, besides being the Sole Underwriter for Techbond’s IPO, is also the Principal Adviser and Sole Placement Agent for this exercise.

Speaking at the ceremony, the Managing Director of Techbond, Lee Seng Thye said that the signing of the Underwriting Agreement not only reiterates PIVB’s confidence in Techbond but also takes the Company a step closer towards listing on the Main Market of Bursa Securities.

He also added, “Tapping into the capital market will help accelerate our growth plans of expanding our operations in Malaysia as well as Vietnam, as we look to capture new markets and expand existing ones. Not only that, we also believe that this listing exercise will enhance our public profile and hopefully further strengthen our financial position in the years to come.”

Also at the ceremony, Deputy Chief Executive Officer of PIVB, Lee Yo-Hunn said, “We are pleased to be given the opportunity to play a key role as the Principal Adviser, Sole Underwriter and Sole Placement Agent in bringing a reputable company like Techbond to the Main Market of Bursa Securities. We are committed to working closely with them as they embark on this IPO journey and beyond.”

The Company is slated to list on the Main Market of Bursa Malaysia Securities Berhad by the end of year 2018.

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