KUALA LUMPUR: KJTS Group Bhd has received approval from Bursa Malaysia Securities Bhd to list on the ACE Market of Bursa Malaysia.

       KJTS is a building support services provider in Malaysia, Thailand and Singapore. Its core expertise lies in delivering cooling energy, cleaning, and facilities management services.

       The company is set to offer a total of approximately 218.03 million new ordinary shares, representing 31.69% of its enlarged issued share capital of 688.00 million ordinary shares, in its upcoming initial public offering (IPO).

       According to KJTS’ draft prospectus for the IPO posted on the Bursa Malaysia Bhd’s website, the listing exercise involves the IPO of approximately 218.03 million new ordinary shares or 31.69% of the enlarged issued share capital with no offer for sale.

       “We are grateful to the Bursa Malaysia for their approval of our IPO on the ACE Market. This listing is a pivotal step in elevating KJTS' profile and further extending our market reach across Malaysia, Singapore, and Thailand.

       “The IPO also opens doors to capital markets, enabling us to secure funding for our next phase of growth and expansion, particularly in our cooling energy segment,” managing director Lee Kok Choon said in a statement.

       “The funds raised will significantly contribute to our strategic plans, including the expansion of our cooling energy segment in Malaysia and our operational presence in Malaysia, Singapore and Thailand. This move aligns with our long-term vision to solidify the group’s position as a leading provider in the building support services industry,” he added.

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       Hong Leong Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole bookrunner.