Kuala Lumpur, Jan 5: KJTS Group Berhad, a leading provider of building support services in Malaysia, Thailand, and Singapore, is gearing up for a significant entry into the ACE Market of Bursa Malaysia Securities Berhad with its initial public offering (IPO).
The IPO is set to raise RM58.9 million, signifying a strategic move to expand and reinforce the company’s operations throughout Southeast Asia.
The offering involves the release of 218.03 million new shares at a price of RM0.27 each.
The funds raised are strategically allocated, with RM44.9 million designated for business expansion.
This includes RM40.4 million specifically for enhancing the Cooling Energy Segment and RM4.5 million for expanding offices in Malaysia, Thailand, and Singapore.
Additionally, RM8.1 million is reserved for working capital, with RM5.8 million set aside to cover the expenses of the listing.
Sheldon Wee Tah Poh, Executive Director of KJTS Group Berhad, expressed his pride and excitement about this crucial step.
“The launch of our prospectus is a significant milestone for KJTS, representing our dedication to growth and innovation within the building support services sector.
“This IPO opens the door for us to improve our services and extend our presence in Malaysia, Singapore, and Thailand,” he remarked.
The IPO is pivotal in scaling KJTS’s operations and enhancing its service portfolio, with a particular focus on the Cooling Energy Segment and expanding the company’s regional office network.
Lee Jim Leng, Group Managing Director/Chief Executive Officer of Hong Leong Investment Bank Berhad, conveyed her support, noting the company’s promising future.
“As we enter a period where sustainability and efficiency are paramount, KJTS is ideally positioned to face these challenges.
“Their strategic direction, coupled with operational excellence, ensures their ongoing growth and competitive advantage in the building support services sector,” she said.
KJTS has demonstrated consistent growth, underpinned by its expertise in EPCC of cooling energy systems, cleaning services, and FM services.
Its commitment to quality, efficiency, and sustainability has established it as a key player in Malaysia, Singapore, and Thailand.
Hong Leong Investment Bank Berhad serves as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Bookrunner for this IPO, underscoring the robust support and confidence in KJTS’s future prospects.
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