KJTS to Raise RM58.9 Million from ACE Market IPO

KUALA LUMPUR, Jan 5, 2024 - ( JCN 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, is pleased to announce the Company's launch of the prospectus for upcoming initial public offering ("IPO") on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").

The IPO aims to raise RM58.9 million through the issuance of 218.03 million new shares at a retail price of RM0.27 per share. The proceeds from the IPO will be allocated as follows:

- RM44.9 million for business expansion, including RM40.4 million specifically for the expansion of the Cooling Energy Segment and RM4.5 million for expansion of offices in Malaysia, Thailand, and Singapore.
- RM8.1 million for working capital.
- RM5.8 million to defray listing expenses.

Executive Director of KJTS Group Berhad, Mr. Sheldon Wee Tah Poh stated, "I am proud to be part of this pivotal moment with our prospectus launch. This step marks a significant milestone for KJTS, symbolising our commitment to growth and innovation in the building support services industry. It paves the way for us to enhance our services and expand our reach in Malaysia, Singapore, and Thailand. We are optimistic about the future and the opportunities this IPO opens 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 our 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, stating, "As we step into an era where sustainability and efficiency are valued, KJTS is well-positioned to meet these challenges head-on. KJTS's strategic vision, combined with operational excellence, ensures their continued growth and competitive edge in the building the support services sector."

KJTS has demonstrated consistent growth, underpinned by the Group's expertise in EPCC of cooling energy systems, cleaning services, and FM services. The Company's commitment to quality, efficiency, and sustainability has established it as an established provider in Malaysia, Singapore, and Thailand.

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