Techbond eyes operational expansion in M’sia

KUCHING: Techbond Group Bhd (Techbond), a developer and manufacturer of industrial adhesives and sealants, as well as a provider of supporting products and services, hopes to further expand its operations in Malaysia and Vietnam.

This comes after its successful listing on the Main Market of Bursa Malaysia Securities Berhad (Bursa Securities) and officially commenced trading under the stock short name TECHBND and stock code of 5289 at the opening of trading yesterday.

Speaking at the listing ceremony, Techbond managing director Lee Seng Thye said the listing sig-

As demonstrated from the public portion of our shares which was oversubscribed by 24.20 times, this strong interest from the members of the public will give us motivation to strive for better achievements and higher shareholders’ value in the coming years.

nals the beginning of a new phase in our corporate journey.

“As demonstrated from the public portion of our shares which was oversubscribed by 24.20 times, this strong interest from the members of the public will give us motivation to strive for better achievements and higher shareholders’ value in the coming years,” he said in a statement

“We have developed a clear roadmap and set realistic targets which we are hopeful of achieving.”

“Though Techbond’s listing today marks the end of our IPO journey, a new chapter awaits us as we bring Techbond to a higher level. Not only that, we also hope to grow from strength to strength and create value for all our shareholders as we now embark on a more challenging growth trajectory aiming for better and higher returns to all our shareholders.”

The IPO exercise entails a public issue of 60.11 million new ordinary shares at an issue price of RM0.66 per share. Based on the issue price and the enlarged issued share capital of 230.00 million, Techbond will have a market capitalisation of RM151.80 million.

Moving forward, Techbond targets to further strengthen its reach in its existing markets, such as Vietnam, Malaysia, Indonesia and other countries around the world. At the same time, the Company also intends to continuously develop and expand its product range of industrial adhesives and sealants. This is expected to provide sustainability and growth opportunities to the Company in the years to come.

The IPO proceeds raised of approximately RM39.67 million will be used for, amongst others, the construction of a new factory complex at the Vietnam- Singapore Industrial Park 2 in Binh Duong Province, Vietnam ( VSIP2 Factory Complex).

It will also be utilised for the purchase of machineries and equipment for the VSIP2 Factory Complex and the existing factory complexes at Shah Alam, Malaysia.

Techbond began its operations in 1996 in Malaysia and expanded to Vietnam in 2005. Over the years, Techbond expanded their presence into other countries such as Indonesia, China, Thailand, Cambodia, Brunei, Liberia, Singapore, Sri Lanka, Maldives, Hong Kong and Uganda.

Public Investment Bank Bhd is the Principal Adviser, Sole Underwriter and Sole Placement Agent for Techbond’s IPO.

Lee Seng Thye, Techbond managing director