KUALA LUMPUR: KJTS Group Bhd
, which is set to make its ACE Market debut on Jan 26, announced that the shares offered to the public under its initial public offering (IPO) has been oversubscribed by 31.28 times.
The building support services provider received a total of 9,632 applications for 1.11 billion IPO shares worth RM299.78mil from the Malaysian public, representing an oversubscription rate of 31.28 times.
The Bumiputera portion saw 5,803 applications for 562.24 million IPO shares, with an oversubscription rate of 31.69 times while the public portion recorded 3,829 applications for 548 million IPO shares, indicating an oversubscription rate of 30.86 times.
All 15 million shares set aside for application by eligible persons have been fully subscribed.
Under the institutional offering, the sole bookrunner, Hong Leong Investment Bank Bhd has confirmed that it has received offers to subscribe the 168.6 million IPO shares offered to institutional and selected investors.
The institutional price has been fixed at 27 sen per IPO share. Accordingly, the final retail price for the IPO shares under the retail offering has also been fixed at 27 sen per IPO share.
Managing director Lee Kok Choon said the remarkable reception of its IPO reflects the market's trust in KJTS's strategic vision and prospects.
“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 is the principal adviser, sponsor, sole underwriter, and sole bookrunner.
