• The funds raised will primarily fuel expansion in the cooling energy segment, aiming to capitalise on ESG principles by reducing carbon emissions through electricity consumption reduction.

KUALA LUMPUR (Dec 5): Building support services provider KJTS Group Bhd has inked an underwriting agreement with Hong Leong Investment Bank Bhd (HLIB) for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.

The IPO involves the issuace of 218.03 million new ordinary shares, representing 31.69% of KJTS’s enlarged number of issued shares. This includes a retail offering of 49.4 million new ordinary shares (7.18% of enlarged issued shares) and an institutional offering of 168.63 million new ordinary shares to institutional and selected investors (24.51% of enlarged issued shares), it said in a statement.

According to KJTS managing director Lee Kok Choon and executive director Sheldon Wee, the IPO will pave the way for the company’s strategic growth. The funds raised will primarily fuel expansion in the cooling energy segment, aiming to capitalise on ESG principles by reducing carbon emissions through electricity consumption reduction.

The funds will also support office expansions across Malaysia, Thailand and Singapore, according to them.

Meanwhile, HLIB group managing director/chief executive officer Lee Jim Leng said: "We are pleased to have played a key role in KJTS Group Bhd’s IPO journey. We hope that KJTS’s market presence and future growth plans will present a compelling opportunity for investors. We are confident that this listing will be a significant step forward for the company."

HLIB, serving as the principal adviser, sponsor, underwriter, and bookrunner, will underwrite the entire 49.4 million new ordinary shares under the retail offering.

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