Azam Jaya inks deal for Main Market IPO

From left: Azam Jaya Bhd executive director Datuk Lo Vun Che @ Jessica, Azam Jaya chairman Tan Sri Joseph Lo @ Lo Tain Foh, Azam Jaya managing director Datuk Jonathan Lo Chaw Loong, Inter-Pacific Securities Sdn Bhd head of capital markets / corporate finance Anuar Omar and Inter-Pacific senior advisor, capital markets & corporate finance Denis Lim Seng Huat.

PETALING JAYA: Sabah-based major road infrastructure construction company Azam Jaya Bhd has signed an underwriting agreement with Inter-Pacific Securities Sdn Bhd (Interpac) in conjunction with its upcoming initial public offering on the Main Market of Bursa Malaysia.

Azam Jaya is scheduled to be listed on the Main Market in November 2024, with Interpac as the principal adviser, sole underwriter and sole placement agent for the IPO exercise.

Specialising in road infrastructure construction in Sabah, Azam Jaya has over 30 years of experience and has successfully completed more than 50 projects, including highways, bridges, and tunnels.

Currently, the group has nine ongoing construction projects, all awarded by the Works Ministry and Jabatan Kerja Raya Sabah. These projects include the Pan Borneo Highway, upgrades to roads in Kota Kinabalu and various rural road projects.