ACE Market-bound OB Holdings Aims To Raise RM28.8 Mln From IPO

OB Holdings Bhd (OB Holdings) aims to raise RM28.8 million from its initial public offering (IPO), pursuant to its listing on the ACE Market of Bursa Malaysia on Oct 29. OB Holdings provides fully customisable, end-to-end manufacturing services for fortified food and beverages (F and B) and dietary supplements to third-party brand owners. Its managing director Teoh Eng Sia said of the total proceeds, RM14.9 million will be used to repay bank borrowings incurred from the construction of its new factory and land acquisition in Serendah, Selangor. Source: BERNAMA News Agency