Techbond en route to listing on main market

KUCHING: Techbond Group Berhad ( Techbond), a developer and manufacturer of industrial adhesives and sealants, as well as a provider of supporting products and services, yesterday launched its Prospectus pursuant to its Initial Public Offering ( IPO) exercise in conjunction with its listing on the Main Market of Bursa Malaysia Securities Berhad.

The Prospectus was launched by the managing director of Techbond, Lee Seng Thye together with the Group’s Board of Directors.

Speaking at the launch, the managing director of Techbond, Lee Seng Thye said, “Today we reach another milestone as we take one more step towards our listing on the Main Market of Bursa Securities. We believe that this listing exercise will further strengthen our corporate profile to enhance market awareness of our business as well as provide a platform for our growth regionally.”

In conjunction with its listing on the Main Market of Bursa Securities, the IPO entails a public issue of approximately 60.11 million new ordinary shares at an issue price of RM0.66 per share.

The Public share comprises 11.50 million shares that will be made available for application by the public, six million shares will be available for application by the Eligible Directors, Employees and other persons who have contributed to the success of Techbond.

Meanwhile, 23 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.

Based on the issue price of RM0.66 per share and the enlarged issued share capital of Techbond Group Berhad of 230,000,000 ordinary shares, the Company will have a market capitalisation of RM151.8 million.

Lee added, “We would continue to capitalise on our strengths to generate sustainable revenue from our existing businesses.

“We believe our strong fundamentals will put us in good stead, and we are confident that we can deliver commendable performance in the coming years.”

Lee (fourth right) together with Public Investment Bank Bhd chief executive officer Fong Loong Seng (third right), Public Investment Bank Bhd deputy chief executive officer and head of corporate finance and advisory Lee Yo-Hunn (right) and directors from Techbond during the group’s prospectus launch yesterday.