Jati Tinggi Group Berhad, an infrastructure-oriented company, is set to make its debut on the ACE Market of Bursa Malaysia Securities Berhad, with a plan to raise RM18.04 million through its initial public offering (IPO). The IPO involves the issuance of 66.80 million shares at a price of RM0.27 each. The capital raised is strategically allocated to various facets of the business to bolster its growth and operational capabilities.
The Managing Director, Dato' Seri Lim Yeong Seong, expressed confidence that the IPO will significantly contribute to the company's operational excellence and its ability to undertake larger future projects. The funds are designated for several critical areas including RM7.00 million for bank loan repayments, RM7.34 million to reinforce working capital, RM0.20 million towards capital expenditure for winch machines, and RM3.50 million (USD1 = MYR4.6595) to cover the expenses of the listing process.
TA Securities is playing a central role in this financial milestone as the Principal Adviser, Sponsor, Underwriter, and Placement Agent for Jati Tinggi Group Berhad's IPO. The company's leadership emphasizes a commitment to sustainable growth and operational efficiency as key drivers for the decision to go public.
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