OB Holdings gets Bursa’s nod to list on ACE Market

Group to use IPO funds for repaying loans, buying machinery, developing products, marketing, and working capital

OB Holdings Bhd, a fortified food and beverage (F&B) and dietary supplements manufacturing services provider, has obtained approval from Bursa Malaysia Securities to list on the ACE Market of Bursa Securities (IPO approval).

OB Holdings, through its subsidiaries, is principally involved in the manufacturing of fortified F&B and dietary supplements for third party brand owners. Its range of fortified F&B products encompasses a wide variety of formulations including fruitbased products (beverages mix, chewable tablets and jelly), milk-based products (beverages and chewable tablets), herbbased products (beverages mix, chewable tablets, jelly and liquid beverages), collagen-based products (beverages mix and jelly), vegetable-based beverages mix, probiotic-based beverages mix, coffeebased beverages mix, oat-based beverages mix, soy-based beverages mix and teabased beverages mix.

The dietary supplements comprise traditional medicines and nutraceuticalbased products.

Additionally, the group manufactures, sells, and markets its own fortified F&B and dietary supplements under various house brands including Bonlife, GoHerb, Kids Vite, Zen Night, Sleepin’ Beaute, and EZ:Nitez.

The group also offers contract packing services for various products such as milk powder, tea leaves, honey, herb powder, fruit powder, and liquid chlorophyll into retail packaging sizes, along with trading of milk powder and other activities.

The initial public offering (IPO) involves a public issue of 120 million new ordinary shares, representing 30.64% of its enlarged issued share capital of 391.63 million ordinary shares.

Managing director Teoh Eng Sia said “We are committed to excel in providing end-toend manufacturing services for brand owners to develop high quality fortified F&B products and dietary supplements. Our comprehensive services cover the development of product formulations, product registration, sourcing of supplies, manufacturing and packing of products, and delivery of products to our customers’ designated location.”

Over the years, he added they have developed more than 900 formulations of fortified F&B and over 100 formulations of dietary supplements and their products are tailored to meet the diverse needs of consumers across various demographics and lifestyles, ensuring they adapt to consumer preferences and responding to emerging market trends.

Teoh said the group plans to use the IPO proceeds, among others, for repayment of bank borrowings, purchase of machines, product development, marketing and advertisement, and for working capital requirements which is in line with growth in business operations.

Beyond Malaysia, the group’s products are also exported to Hong Kong, Thailand, Singapore, China, Australia and Taiwan.

Barring unforeseen circumstances, OB Holdings targets to be listed on the ACE Market of Bursa Securities in the fourth quarter of 2024.