Sign In  |  Register  |  About Burlingame  |  Contact Us

Burlingame, CA
September 01, 2020 10:18am
7-Day Forecast | Traffic
  • Search Hotels in Burlingame

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

KJTS Group Berhad's Public Portion of IPO Oversubscribed by 31.28 Times



KUALA LUMPUR, Jan 16, 2024 - (ACN 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, announces that the Company’s initial public offering (“IPO”) for the Malaysian public has been oversubscribed by 31.28 times.

Managing Director of KJTS, Mr. Lee Kok Choon
Managing Director of KJTS, Mr. Lee Kok Choon

KJTS’s IPO comprises the offering of 218,027,200 new ordinary shares in the Company (“IPO Shares”) in the following manner :

- Institutional offering of 168,627,200 IPO Shares to institutional and selected investors; and 

- Retail offering of 49,400,000 IPO Shares to the Malaysian public, the eligible directors, eligible key senior management, eligible employees, and persons who have contributed to the success of the KJTS Group (“Eligible Persons”).

The Company received a total of 9,632 applications for 1,110,308,600 IPO Shares worth RM299.78 million from the Malaysian public, representing an oversubscription rate of 31.28 times. The Bumiputera portion saw 5,803 applications for 562,240,300 IPO Shares, with an oversubscription rate of 31.69 times. The public portion recorded 3,829 applications for 548,068,300 IPO Shares, indicating an oversubscription rate of 30.86 times.

The 15,000,000 IPO Shares made available for application by the Eligible Persons were fully subscribed.

Under the Institutional Offering, the Sole Bookrunner has confirmed that it has received offers to subscribe the 168,627,200 IPO Shares offered to institutional and selected investors.

The institutional price has been fixed at RM0.27 per IPO Share. Accordingly, the final retail price for the IPO Shares under the retail offering has also been fixed at RM0.27 per IPO Share. As the final retail price equals to the retail price, there will be no refund to be made to the successful applicants under the retail offering.

Managing Director of KJTS, Mr. Lee Kok Choon shared: “The remarkable reception of our IPO reflects the market's trust in KJTS's strategic vision and prospects. This investor enthusiasm solidifies our dedication and commitment to deliver excellent building support services throughout its target audience.

With a strong emphasis on sustainability, KJTS Group is positioned to stimulate growth and elevate our services throughout Malaysia, Singapore and Thailand, with a specific focus on the cooling energy market. The positive response from investors underscores the market's confidence in KJTS Group's capabilities and its commitment to forging a sustainable and energy efficient future.”

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

KJTS is set to debut on the ACE Market of Bursa Securities on 26 January 2024.

]]>

Source: KJTS Group Berhad

Copyright 2024 ACN Newswire . All rights reserved.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Burlingame.com & California Media Partners, LLC. All rights reserved.