From left: OB Holdings Bhd executive director Lee Bao Yu, OB Holdings managing director Teoh Eng Sia, Alliance Islamic Bank Bhd chief executive officer Rizal IL-Ehzan Fadil Azim and Alliance Islamic Bank senior vice president, head of corporate finance Tee Kok Wah.
PETALING JAYA: OB Holdings Bhd, a food and beverages (F&B) and dietary supplements manufacturing services provider, has entered into an underwriting agreement with Alliance Islamic Bank Bhd in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.
In a statement, OB Holdings said its IPO exercise encompasses a public issuance of 120 million new ordinary shares, representing 30.6% of its enlarged issued share capital.
Of which, 19.6 million shares will be made available for application by the Malaysian public via balloting, 7.8 million shares to its eligible directors, employees and persons who have contributed to the success of OB Holdings and its subsidiaries (pink form allocation).
Meanwhile, 43.6 million shares will be allocated for selected investors via private placement, while the remaining 49 million shares will be allocated by way of private placement to identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry of Malaysia.
Pursuant to the underwriting agreement, Alliance Islamic Bank will underwrite 19.6 million shares made available to the Malaysian public and 7.8 million shares for pink form allocation.
OB Holdings Group, provides end-to-end manufacturing services of fortified F&B and dietary supplements to third party brand owners, including product development, product registration, sourcing of supplies, manufacturing and packing, and delivery of products in a wide range of product forms.
The group is also involved in developing, manufacturing, sales and marketing its own house brands of fortified F&B and dietary supplements. These brands include Bonlife, GoHerb, Zen Night, Sleepin’ Beaute, EZ:Nitez, Beyoute, Zen Youte and Zenliv.
The group expanded its offerings by providing contract packing services for milk powder, tea leaves, honey, herb powder, fruit powder, and liquid chlorophyll into retail packaging sizes.
In addition, the group engages in trading of milk powder and other activities.
