Jati Tinggi Aims to Raise RM18.04 Million from ACE Market IPO
(firmenpresse) - KUALA LUMPUR, Nov 30, 2023 - (ACN Newswire) - Jati Tinggi Group Berhad, one of the players in the field of infrastructure utilities engineering industry, today unveiled its prospectus in anticipation of its forthcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.
Jati Tinggi Aims to Raise RM18.04 Million from ACE Market IPO
Dato' Ir. Lim Yew Soon, Independent Non-Executive Director of Jati Tinggi Group Berhad; Mr. Chin Jiunn Shyong, Executive Director/ COO of Jati Tinggi Group Berhad; Dato' Seri Lim Yeong Seong, Managing Director of Jati Tinggi Group Berhad; Datuk Ir. Mohd Aminuddin Bin Mohd Amin, Independent Non-Executive Chairman of Jati Tinggi Group Berhad; Mr. Tah Heong Beng, Executive Director, Operations, TA Securities Holdings Berhad; Ms. Vivien Hooi, Vice President, Corporate Finance, TA Securities Holdings Berhad; Ms. Poon Lai Kit, Independent Non-Executive Director of Jati Tinggi Group Berhad; Ms. Loo May Len, Independent Non-Executive Director of Jati Tinggi Group Berhad[L-R]
The Group aims to raise RM18.04 million through the issuance of 66.80 million new shares priced at RM0.27 per share. The capital to be raised will be allocated to support the Group’s growth, enhance operational capacities and strengthen its financial position.
The usage of proceeds is outlined as follows:
- RM7.00 million to be directed towards the repayment of bank borrowings;
- RM7.34 million will be earmarked for general working capital purposes;
- RM0.20 million will be invested in capital expenditure, specifically in the procurement of winch machines; and
- RM3.50 million is allocated to cover the estimated expenses associated with the listing process.
Managing Director of Jati Tinggi, Dato’ Seri Lim Yeong Seong remarked, "At Jati Tinggi, we strive to achieve operational excellence and embrace sustainable practices. This IPO marks a key milestone; it reflects our dedication to excellence and for sustainability as well as growth. The funds to be raised will play a crucial role in enhancing our capabilities in supporting our future growth as our Group will have access to a larger pool of financial resources which would facilitate our Group’s efforts to secure and undertake more and/ or larger projects in the future."
Head of Corporate Finance of TA Securities Holdings Berhad (“TA Securities”), Mr. Ku Mun Fong said, "Jati Tinggi's performance over the last 3 full financial years showcases its foundation and strategic planning. This IPO is a significant step, set to expand Jati Tinggi's reach, strengthen its position, and establish itself as a prominent player in the infrastructure utilities engineering industry."
TA Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO.
Datum: 30.11.2023 - 00:48 Uhr
Sprache: Deutsch
News-ID 1575120
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Automotive
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