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Jati Tinggi Aims to Raise RM18.04 Mil from ACE Market IPO

Publish date: Thu, 30 Nov 2023, 12:26 PM


KUALA LUMPUR, 30 NOVEMBER 2023Jati Tinggi Group Berhad ("Jati Tinggi" or the "Group"), 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 (“Bursa Securities”).

Caption (L-R):

 Dato’ Ir. Lim Yew Soon拿督林猷存 , Independent Non-Executive Director of Jati Tinggi Group Berhad, Mr. Chin Jiunn Shyong 陈俊雄, Executive Director/ COO of Jati Tinggi Group Berhad, Dato’ Seri Lim Yeong Seong 拿督斯里林湧翔, 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 郑雄明, Executive Director, Operations, TA Securities Holdings Berhad, Ms. Vivien Hooi 许慧冰, Vice President, Corporate Finance, TA Securities Holdings Berhad, Ms. Poon Lai Kit 潘丽洁, Independent Non-Executive Director of Jati Tinggi Group Berhad, Ms. Loo May Len 卢美莲, Independent Non-Executive Director of Jati Tinggi Group Berhad

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.

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