KJTS aims to raise RM58.9mil from IPO

KUALA LUMPUR: KJTS Group Bhd aims to raise RM58.9 million from its initial public offering (IPO) upon its listing on the ACE Market of Bursa Malaysia on Jan 26, 2024.

Executive director Sheldon Wee said that the IPO comprised the issuance of 218.03 million new shares at a retail price of 27 sen per share, adding that the bulk of proceeds will be utilised for the company’s business expansion, working capital and to defray listing expenses.