KJTS Group Berhad, a seasoned player in the building support services sector, has received approval for its initial public offering (IPO) on the ACE Market of Bursa Malaysia. The company, with a history dating back to 1984, is poised to offer about 218.03 million new ordinary shares, which represent 31.69% of its enlarged total share capital of 688 million shares.
The public offering is structured in two segments:
- A retail portion offering approximately 49.40 million new shares available to Malaysian citizens and Bumiputera investors through balloting.
- An institutional portion with around 168.63 million shares earmarked for selected investors.
Under the leadership of Managing Director KC Lee, KJTS aims to use the proceeds from the IPO to boost growth within their cooling energy segment and expand their operational footprint in Malaysia, Singapore, and Thailand. This strategic move is intended to solidify KJTS's position as a leader in providing essential services such as management and engineering; procurement; construction; commissioning; specialized cleaning; and comprehensive facilities management to various buildings including commercial complexes and manufacturing sites.
Hong Leong Investment Bank Berhad is playing a pivotal role in this significant milestone for KJTS Group as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Bookrunner for the company's market debut. Lee Kok Choon, the Managing Director, highlighted that this capital-raising effort will not involve an offer for sale but will focus on enhancing the company's market presence and funding strategic growth initiatives, particularly in the cooling energy sector across their active markets.
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