KUALA LUMPUR, Jan 16, 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, announce that the Company's initial public offering (“IPO”) for the Malaysian public was oversubscribed by 31.28 times.
Managing Director of KJTS, Mr. Lee Kok Choon
KJTS's initial public offering includes the offering of 218,027,200 new common shares of the Company (“IPO Shares”) in the following manner:
– Institutional offering of 168,627,200 IPO shares to institutional and select investors; And
– Retail offering of 49,400,000 IPO Shares to the Malaysian public, eligible directors, eligible officers, eligible employees and persons who have contributed to the success of KJTS Group (“Eligible Persons”).
The company received a total of 9,632 applications from the Malaysian public for 1,110,308,600 IPO shares worth RM299.78 million, representing an oversubscription rate of 31.28 times. For the Bumiputera portion, 5,803 applications were made for 562,240,300 IPO shares, with an oversubscription rate of 31.69. The public portion recorded 3,829 applications for 548,068,300 IPO shares, representing an oversubscription rate of 30.86 times.
The 15,000,000 IPO shares made available to eligible persons for application were fully subscribed.
As part of the institutional offering, the Sole Bookrunner has confirmed that it has received offers to subscribe for the 168,627,200 IPO shares that will be offered to institutional and select investors.
The institutional price was set at RM0.27 per IPO share. Accordingly, the final selling price for the IPO shares under the retail offer has also been set at RM0.27 per IPO share. As the final selling price is the retail price, no refund will be given to successful applicants under the retail offer.
Managing Director of KJTS, Mr Lee Kok Choon, said: “The remarkable reception to our IPO reflects the market's confidence in KJTS's strategic vision and prospects. This investor enthusiasm solidifies our commitment and commitment to providing outstanding building support services to the entire target audience.
With a strong focus on sustainability, KJTS Group is positioned to drive growth and enhance our services across Malaysia, Singapore and Thailand, with a particular focus on the cooling energy market. The positive response from investors underlines the market’s confidence in the KJTS Group’s capabilities and its commitment to a sustainable and energy-efficient future.”
Hong Leong Investment Bank Berhad is the lead advisor, sponsor, sole underwriter and sole bookrunner.
KJTS is expected to debut on Bursa Securities' ACE Market on January 26, 2024.
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