KUALA LUMPUR, Jan 5, 2024 – (ACN Newswire) – KJTS Group Berhad (“KJTS” or the “Company”) and its subsidiaries (collectively referred to as “KJTS Group”), a provider of building support services in Malaysia, Thailand and Singapore, is pleased to announce the launch of the Company's Prospectus for the upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
[L-R]:1. Dr. Teoh Pek Loo, Independent Non-Executive Director, KJTS Group Berhad2. Mr Ng Kok Ken, Independent Non-Executive Director, KJTS Group Berhad3. Mr. Sheldon Wee Tah Poh, Managing Director, KJTS Group Berhad4. Ms. Lee Jim Leng, Group Managing Director and Chief Executive Officer, Hong Leong Investment Bank Berhad5. Mr. Lee Kok Choon, Managing Director, KJTS Group Berhad6. Ms. Elaine Law Soh Ying, Independent Non-Executive Director, KJTS Group Berhad7. Mr. Phang Siew Loong, Head of Stock Markets, Hong Leong Investment Bank Berhad
The IPO aims to raise RM58.9 million through the issuance of 218.03 million new shares at a selling price of RM0.27 per share. The proceeds from the IPO will be used as follows:
RM44.9 million for business expansion, including RM40.4 million specifically for cooling energy segment expansion and RM4.5 million for office expansion in Malaysia, Thailand and Singapore. RM8.1 million for working capital. RM5.8 million to cover listing costs.
Mr. Sheldon Wee Tah Poh, Executive Director of KJTS Group Berhad, said: “I am proud to be part of this pivotal moment with the launch of our prospectus. This move represents a significant milestone for KJTS and symbolizes our commitment to growth and innovation in the building support services industry. It paves the way for us to improve our services and expand our reach in Malaysia, Singapore and Thailand. We are optimistic about the future and the opportunities that this IPO opens up for our company.
Our IPO also marks a significant step in scaling our operations and enhancing our service offerings in Malaysia, Singapore and Thailand. The focus on expanding our cooling energy segment and regional office network reflects our commitment to meeting the growing demand for high-quality building support services.”
Group Managing Director/Chief Executive Officer of Hong Leong Investment Bank Berhad, Ms. Lee Jim Leng, expressed her support and stated: “As we enter an era where sustainability and efficiency are valued, KJTS is well positioned to address these challenges to master.” -An. KJTS’ strategic vision, coupled with operational excellence, ensures their continued growth and competitive advantage in building the support services sector.”
KJTS has demonstrated continued growth, underpinned by the group's expertise in EPCC for cooling energy systems, cleaning services and FM services. The company's commitment to quality, efficiency and sustainability has made it an established provider in Malaysia, Singapore and Thailand.
Hong Leong Investment Bank Berhad is the lead advisor, sponsor, sole underwriter and sole bookrunner.
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