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Wednesday, 22 November 2023, 19:00 HKT/SGT

Source: KJTS Group Berhad
KJTS Group Berhad Receives Bursa Malaysia's Approval for ACE Market Listing
KJTS Group Berhad's IPO Set to Propel Expansion in Building Support Services Sector

KUALA LUMPUR, Nov 22, 2023 - (ACN Newswire) - KJTS Group Berhad (“KJTS” or the “Company”) and its subsidiaries (collectively referred to as “KJTS Group” or the “Group”), a building support services provider in Malaysia, Thailand and Singapore, are pleased to announce its approval to list on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”). The Company is set to offer a total of approximately 218.03 million new ordinary shares, representing 31.69% of its enlarged issued share capital of 688.00 million ordinary shares, in its upcoming initial public offering (“IPO”).

Since 1984, KJTS Group has evolved significantly over the years. The leadership of the current management team of the Group has been instrumental in shaping KJTS Group's growth. Today, KJTS Group’s operations extends across Malaysia, Singapore, and Thailand. The Group’s core expertise lies in delivering cooling energy, cleaning, and facilities management services. This includes comprehensive range of cooling energy services which include cooling energy management and engineering, procurement, construction and commissioning of cooling energy systems services, alongside general and specialised cleaning services, and 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. The services that KJTS Group provides are synergistic as cooling energy, cleaning and facilities management services are necessary for the proper functioning of many types of buildings, including commercial properties such as shopping complexes and offices, manufacturing facilities and institutional buildings such as universities and hospitals.

According to KJTS’ draft prospectus for the IPO posted on the Bursa Malaysia Berhad’s website, the listing exercise involves the IPO of approximately 218.03 million new ordinary shares or 31.69% of the enlarged issued share capital with no offer for sale.

The new ordinary shares will be offered in the following manner:

1. Retail offering of 49.40 million new ordinary shares, representing 7.18% of the enlarged issued shares:

a. 34.40 million new ordinary shares for application by the Malaysian public via balloting, of which 17.20 million new ordinary shares (representing 2.50% of the enlarged issued shares) are reserved for application by Bumiputera investors including individuals, companies, societies, co-operatives and institutions;

b. 15.00 million new ordinary shares reserved for application by the eligible directors, eligible key senior management, eligible employees and persons who have contributed to the success of the Group.

2.  Institutional offering of approximately 168.63 million new ordinary shares representing 24.51% of the enlarged issued shares to institutional and selected investors.

Managing Director of KJTS Group, Mr. Lee Kok Choon (“KC Lee”), commented on the milestone, saying, “We are grateful to the Bursa Malaysia for their approval of our IPO on the ACE Market. This listing is a pivotal step in elevating KJTS' profile and further extending our market reach across Malaysia, Singapore, and Thailand. The IPO also opens doors to capital markets, enabling us to secure funding for our next phase of growth and expansion, particularly in our cooling energy segment.”

KC Lee further added, “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 Group’s position as a leading provider in the building support services industry.”

Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Bookrunner.

KJTS Group Berhad: http://www.kjts.com.my 

Topic: Press release summary
Source: KJTS Group Berhad

Sectors: Exchanges & Software, Daily Finance, Funds & Equities
From the Asia Corporate News Network

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