Construction firm TCS Group eyes RM20.7mil from IPO

Speaking at the launch of the prospectus, TCS Group managing director Datuk Tee Chai Seng (pic) said the listing exercise would enable it to “further strengthen our foothold in the construction industry as it enables us to gain access into the capital markets to fuel our expansion plans.”

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

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