KUALA LUMPUR: Building support services provider KJTS Group Bhd has received approval to list on the ACE Market of Bursa Malaysia Securities Bhd.
The company is set to offer around 218.03 million new ordinary shares, representing 31.69 per cent of its enlarged issued share capital of 688.00 million ordinary shares, in its upcoming initial public offering (IPO).
According to KJTS' draft prospectus for the IPO posted on Bursa Malaysia's website, the listing exercise involves the IPO of around 218.03 million new ordinary shares, or 31.69 per cent of the enlarged issued share capital, with no offer for sale.
The new ordinary shares will be offered in the following manner: – retail offering of 49.40 million new ordinary shares, representing 7.18 per cent of the enlarged issued shares; and an institutional offering of approximately 168.63 million new ordinary shares, representing 24.51 per cent of the enlarged issued shares, to institutional and selected investors.
KJTS Group managing director Lee Kok Choon said this listing is a pivotal step in elevating the company's profile and further extending its market reach across Malaysia, Singapore, and Thailand.
He added that the IPO also opens doors to capital markets, enabling the company to secure funding for its next phase of growth and expansion, particularly in its cooling energy segment.
"The funds raised will significantly contribute to our strategic plans, including the expansion of our cooling energy segment in Malaysia and our operational presence in Malaysia, Singapore, and Thailand.
"This move aligns with our long-term vision to solidify the company's position as a leading provider in the building support services industry," he said in a statement.
KJTS's operations extend across Malaysia, Singapore, and Thailand, where its core expertise lies in delivering cooling energy, cleaning, and facilities management services.
This includes a comprehensive range of cooling energy services, which include cooling energy management and engineering, procurement, construction, and commissioning of cooling energy systems services, general and specialised cleaning services, and facilities management (FM) services that cover the repair and maintenance of mechanical and electrical machinery and equipment, process utilities, and food and beverage and retail outlet equipment.
Hong Leong Investment Bank Bhd is the principal adviser, sponsor, sole underwriter, and sole bookrunner of the IPO.
