Construction firm TCS Group to raise RM20.7m from IPO

From left are Robert Huray, CEO of RHB Investment Bank Bhd and TCS Group officials -- independent director Datuk Seri Mohamad Othman Zainal Azim, chairman Tan Sri Izzuddin Dali, managing director Datuk Tee Chai Seng executive director Datin Koh Ah Nee and independent director Ooi Guan Hoe.

KUALA LUMPUR: Construction company TCS Group Bhd plans to raise about RM20.70mil from the issuance of 90 million new shares at 23 sen each enroute to its listing on the ACE Market.

It said on Monday under the IPO, the 90 million new shares would representing 25% of the group’s enlarged total number of shares, as well as an offer for sale of up to 18.0 million shares.