KJTS Group inks IPO underwriting agreement

From left: KJTS Group executive director Sheldon Wee, Hong Leong Investment Bank Bhd group managing director and CEO Lee Jim Leng and KJTS Group managing director Lee Kok Choon.

KUALA LUMPUR: KJTS Group Bhd has signed an underwriting agreement with Hong Leong Investment Bank Bhd (HLIB) for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

According to its draft prospectus, the IPO involves the issuance of approximately 218.03 million new ordinary shares, representing 31.69% of KJTS's enlarged number of issued shares.