The IPO involves the issuance of approximately 218m new ordinary shares, constituting 31.7% of KJTS’ enlarged number of issued shares 

KJTS Group Bhd and its subsidiaries have finalised an underwriting agreement with Hong Leong Investment Bank Bhd (HLIB) for their upcoming IPO on the ACE Market of Bursa Malaysia Securities Bhd. 

The IPO involves the issuance of approximately 218.03 million new ordinary shares, constituting 31.69% of KJTS’ enlarged number of issued shares. 

This includes a retail offering of 49.4 million new ordinary shares (7.18% of the enlarged issued shares) and an institutional offering of 168.63 million new ordinary shares (24.51% of the enlarged issued shares). 

HLIB, serving as the principal advisor, sponsor, sole underwriter and sole book-runner, will underwrite the entire retail offering. 

KJTS MD Lee Kok Choon and ED Sheldon Wee said the IPO marks a pivotal moment in KJTS’ history, paving the way for its next stage of strategic growth. 

“Our journey with HLIB in this endeavour is instrumental in realising our expansion goals and strengthening our market position. The funds raised from the IPO will be primarily deployed to expand our cooling energy segment in Malaysia.

“Our cooling energy services enables us to take advantage of opportunities from growing awareness of environmental, social and governance (ESG) principles as these systems help our customers reduce carbon dioxide emissions through the reduction of electricity consumption. 

“We also plan to use these funds to expand our offices in Malaysia, Thailand and Singapore. This financial boost is key to our commitment to sustaining and expanding our services across these countries.” 

Meanwhile, HLIB group MD and CEO Lee Jim Leng said they are pleased to have played a key role in KJTS’ IPO journey. 

“We hope that KJTS’ 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. 

“The listing of KJTS on Bursa Securities (Malaysia Bhd) is set to provide a robust platform for the company to embark on its next phase of growth and aligns its long-term vision to solidify its position as a leader in the building support services sector,” she said. 

KJTS specialises in providing building support services in Malaysia, encompassing cooling energy, cleaning and facilities management services, including cooling energy management, cleaning services and facilities management services covering the maintenance and repair of mechanical and electrical machinery and equipment. — TMR

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• This article first appeared in The Malaysian Reserve weekly print edition