{"id":3677,"date":"2023-11-30T18:56:15","date_gmt":"2023-11-30T10:56:15","guid":{"rendered":"https:\/\/klhappenings.com\/?p=3677"},"modified":"2023-11-30T18:56:17","modified_gmt":"2023-11-30T10:56:17","slug":"jati-tinggi-aims-to-raise-rm18-04-million-from-ace-market-ipo","status":"publish","type":"post","link":"https:\/\/klhappenings.com\/?p=3677","title":{"rendered":"JATI TINGGI AIMS TO RAISE RM18.04 MILLION FROM ACE MARKET IPO"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

KUALA LUMPUR, 30 NOVEMBER 2023 \u2013 Jati 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 (\u201cIPO\u201d) on the ACE Market of Bursa Malaysia Securities Berhad (\u201cBursa Securities\u201d).<\/p>\n\n\n\n

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\u2019s growth, enhance operational capacities and strengthen its financial position.<\/p>\n\n\n\n

The usage of proceeds is outlined as follows:<\/p>\n\n\n\n

\u2022 RM7.00 million to be directed towards the repayment of bank borrowings;<\/p>\n\n\n\n

\u2022 RM7.34 million will be earmarked for general working capital purposes;<\/p>\n\n\n\n

\u2022 RM0.20 million will be invested in capital expenditure, specifically in the procurement of winch machines; and<\/p>\n\n\n\n

\u2022 RM3.50 million is allocated to cover the estimated expenses associated with the listing process.<\/p>\n\n\n\n

Managing Director of Jati Tinggi, Dato\u2019 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\u2019s efforts to secure and undertake more and\/ or larger projects in the future.”<\/p>\n\n\n\n

Head of Corporate Finance of TA Securities Holdings Berhad (\u201cTA Securities\u201d), Mr. Ku Mun Fong said,<\/p>\n\n\n\n

“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.”<\/p>\n\n\n\n

TA Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO.<\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, 30 NOVEMBER 2023 \u2013 Jati 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 (\u201cIPO\u201d) on the ACE Market of Bursa Malaysia Securities Berhad (\u201cBursa Securities\u201d). The Group aims to […]<\/p>\n","protected":false},"author":1,"featured_media":3678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[898,890,158],"tags":[899,89,897],"class_list":["post-3677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ace-market","category-bursa-market","category-ipo-prospectus","tag-ace-market-ipo","tag-ipo","tag-jati-tinggi"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t