Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 4 December 2023, 16:00 HKT/SGT
Share:
    

Source: KJTS Group Berhad
KJTS Group Berhad Inks Underwriting Agreement with Hong Leong Investment Bank
IPO Set to Issue 218.03 Million New Ordinary Shares or 31.69% of the enlarged number of issued shares for its listing on the ACE Market

KUALA LUMPUR, Dec 4, 2023 - (ACN Newswire) - KJTS Group Berhad (“KJTS” or the “Company”) and its subsidiaries (collectively referred to as the “KJTS Group”), a building support services provider in Malaysia, Thailand and Singapore, are pleased to announce the signing of the underwriting agreement with Hong Leong Investment Bank Berhad (“HLIB”) for its upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).

Executive Director of KJTS Group, Mr. Sheldon Wee; Group Managing Director and Chief Executive Officer of Hong Leong Investment Bank Berhad, Ms. Lee Jim Leng; Managing Director of KJTS Group, Mr. Lee Kok Choon [L-R]
Executive Director of KJTS Group, Mr. Sheldon Wee; Group Managing Director and Chief Executive Officer of Hong Leong Investment Bank Berhad, Ms. Lee Jim Leng; Managing Director of KJTS Group, Mr. Lee Kok Choon [L-R]

The IPO exercise, as detailed in the Company's draft prospectus available on the Bursa Malaysia Berhad’s website, involves the issuance of approximately 218.03 million new ordinary shares. This represents 31.69% of KJTS's enlarged number of issued shares, which is split between the retail offering of 49.40 million new ordinary shares which represents 7.18% of the enlarged issued shares and institutional offering of 168.63 million new ordinary shares to institutional and selected investors which represents 24.51% of the enlarged issued shares.

Hong Leong Investment Bank Berhad, as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Bookrunner will underwrite the entire 49.40 million new ordinary shares under the retail offering.

Managing Director of KJTS, Mr. Lee Kok Choon and Executive Director of KJTS, Mr. Sheldon Wee, commented: "This IPO marks a pivotal moment in KJTS’s history, paving the way for our next stage of strategic growth. Our journey with Hong Leong Investment Bank Berhad in this endeavour is instrumental in realising our expansion goals and strengthening our market position. The funds raised from the IPO will be primarily deployed to expand our cooling energy segment in Malaysia. Our cooling energy services enables us to take advantage of opportunities from growing awareness of Environmental, Social and Governance (ESG) principles as these cooling energy systems help our customers reduce carbon dioxide emissions through the reduction of electricity consumption.  We also plan to use these funds to expand our offices in Malaysia, Thailand, and Singapore. This financial boost is key to our commitment to sustaining and expanding our services across these countries."

Group Managing Director/Chief Executive Officer of HLIB, Ms. Lee Jim Leng said: "We are pleased to have played a key role in KJTS Group Berhad’s IPO journey. We hope that KJTS’s market presence and future growth plans will present a compelling opportunity for investors. We are confident that this listing will be a significant step forward for the company.

The listing of KJTS on Bursa Securities is set to provide a robust platform for the company to embark on its next phase of growth and aligns its long-term vision to solidify its position as a leader in the building support services sector.”




Topic: Press release summary
Source: KJTS Group Berhad

Sectors: Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



KJTS Group Berhad
Feb 2, 2024 23:00 HKT/SGT
KJTS Appointed by CENTARA Thailand for Retrofit Works and Cooling Energy Management Services
Jan 26, 2024 11:00 HKT/SGT
KJTS Celebrates Successful Debut on ACE Market
Jan 16, 2024 18:00 HKT/SGT
KJTS Group Berhad's Public Portion of IPO Oversubscribed by 31.28 Times
Jan 5, 2024 15:00 HKT/SGT
KJTS to Raise RM58.9 Million from ACE Market IPO
Nov 22, 2023 19:00 HKT/SGT
KJTS Group Berhad Receives Bursa Malaysia's Approval for ACE Market Listing
More news >>
 News Alerts
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: