KJTS’ public portion of IPO oversubscribed by 31.28-times
KUALA LUMPUR: KJTS Group Bhd (KJTS), and its subsidiaries (collectively referred to as the KJTS Group), a building support services provider in Malaysia, Thailand and Singapore, announced that the company’s initial public offering (IPO) for the Malaysian public has been oversubscribed by 31.28 times.
KJTS’s IPO comprised of the offering of 218.027 million new ordinary shares in the company (IPO shares) in the following manner; institutional offering of 168.627 million IPO Shares to institutional and selected investors, and retail offering of 49.4 million 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.
The company received a total of 9,632 applications for 1.11 billion 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 562.24 milllion IPO Shares, with
an oversubscription rate of 31.69 times. The public portion recorded 3,829 applications for 548.07 million IPO Shares, indicating an oversubscription rate of 30.86 times.
The 15 million 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 million 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.
KJTS managing director 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.”