Kuala Lumpur, Dec 20: Marking a significant stride in the infrastructure utilities engineering sector, Jati Tinggi Group Berhad celebrated its entry into the ACE Market of Bursa Malaysia Securities Berhad. The company’s shares started strong at RM0.305 each, registering a 13 per cent rise from the IPO price of RM0.27.
Listed as “JTGROUP” with the stock code “0292,” Jati Tinggi excels in various services including underground and overhead utility engineering, substation EPCC services, and electrical equipment supply and installation for substations. Their focus on project management and planning has cemented their status in Malaysia’s electricity supply industry.
Through its IPO, Jati Tinggi amassed RM18.04 million, allocated for bank loan repayments, working capital for new and existing projects, winch machine purchases for expansion, and listing expenses.
Datuk Ir. Mohd Aminuddin Bin Mohd Amin, Independent Non-Executive Chairman of Jati Tinggi, expressed his gratitude for the team’s collective effort leading to this successful listing.
Ku Mun Fong, Head of Corporate Finance at TA Securities Holdings Berhad, highlighted the importance of Jati Tinggi’s ACE Market debut. He pointed out the company’s strong business model and strategic expansion plans, positioning them well to capitalize on emerging industry opportunities, particularly following Tenaga Nasional Berhad’s recent capital expenditure announcements.
TA Securities Holdings Berhad played a pivotal role in Jati Tinggi’s IPO, serving as the Principal Adviser, Sponsor, Underwriter, and Placement Agent. This listing marks a key milestone for Jati Tinggi, paving the way for future growth and new project ventures in their sector.
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