2 weeks Ago
KUALA LUMPUR: Shares in OB Holdings Bhd climbed 4.17% as it opened for trading on the ACE Market of Bursa Malaysia, following an initial public offering (IPO) that raised RM28.8mil.
The food and beverage (F&B) and dietary supplements manufacturing services provider was traded at 25 sen, up one sen, or 4.17% from its IPO price of 24 sen. It is currently the most active counter on Bursa Malaysia with 45.
6 million shares traded. OB Holdings provides fully customisable, end-to-end manufacturing services for fortified food and beverages (F&B) and dietary supplements to third-party brand owners. It plans to allocate RM14.
9mil of the proceeds to repay bank borrowings related to the construction of its new factory and land acquisition in Serendah, Selangor. OB Holdings also plans to use RM0.9mil to set up a new laboratory in the new factory and undertake clinical trials for the Bonlife SachaQ10 Plus Softgel, its new product.
The remaining funds will be utilised for general operational purposes, including RM1mil for marketing and advertising activities, RM3mil for working capital, and RM4mil to cover IPO-related expenses..
