Media Coverage
Supplement Maker OB Holdings To Raise RM28.8m From ACE Market IPO
The Edge Malaysia reported on OB Holdings’ RM28.8 million ACE Market IPO and its plans to fund expansion and strengthen manufacturing capabilities.
The Edge Malaysia reported on 27 September 2024 that OB Holdings had opened applications for an ACE Market IPO targeting RM28.8 million. The offering comprised 120 million newly issued shares at 24 sen each, representing 30.64% of the company.
At the time of the report, applications were due to close on 15 October, with listing provisionally scheduled for 29 October 2024. The offer price implied a market capitalisation of approximately RM93.99 million.
The group manufactures fortified food and dietary supplements for external brand owners and its own brands. It also provides contract packing services and trades milk powder.
More than half of the proceeds were earmarked for repayment of borrowing associated with the Serendah factory. Other allocations included RM5 million for machinery, RM900,000 for a laboratory, RM3 million for working capital, RM1 million for marketing, and RM4 million for IPO expenses.
Alliance Islamic Bank served as principal adviser, sponsor, sole underwriter and placement agent.
This is a summary of historical reporting by The Edge Malaysia. Featured photo: The Edge Malaysia; original watermark retained.