Techbond inks underwriting agreement with Public Investment Bank for IPO

Techbond inks underwriting agreement with Public Investment Bank for IPO (Pix courtesy of Techbond Group)

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KUALA LUMPUR (Sept 13): Industrial adhesives and sealants manufacturer Techbond Group Bhd, en route to list on the Main Market of Bursa Malaysia, has inked an underwriting agreement with Public Investment Bank Bhd for its initial public offering (IPO).

Under the deal, Public Investment Bank will underwrite 17.2 million shares made available to the Malaysian public, the group’s eligible employees and other persons who have contributed to the group's success.

Techbond's IPO entails a public issue of 60.11 million new shares, of which 11.5 million shares will be available to the Malaysian public, 6 million shares by its eligible directors and employees, and 23 million shares to Bumiputera investors. The remaining 19.61 million shares will be made available to selected investors via private placement.