Oct 19 2022, 12:08 PM, updated 4y ago
KUALA LUMPUR: Kumpulan Kitacon Bhd has received approval from the Securities Commission Malaysia to list on the Main Market of Bursa Malaysia.
Kitacon, through its proposed wholly-owned subsidiary Kitacon Sdn Bhd, specialises in township construction, including residential and non-residential buildings within a development.
Kitacon's managing director Tan Ah Kee said the company aimed to leverage its established track record and services to continue growing its core competency and deliver long-term value to stakeholders.
"We intend to use the proceeds from the initial public offering (IPO) to support our business growth and strengthen our footing in the construction industry.
"We are confident that we will be able to grow our business moving forward, leveraging on long-established business relationships that we have built with our customers over the years," he said.
The company's IPO entails a public issue of 76.08 million new shares and an offer of sale of 62.5 million existing shares.
Of the shares allocated for the public issue, 10 million will be made available for the Malaysian public, while 8.58 million will be made available for application by eligible directors, employees, and individuals who have contributed to the company.
The remaining 57.5 million shares will be made available to institutional and selected investors through private placement.
RHB Investment Bank Bhd is the principal adviser, sole underwriter and sole placement agent for the IPO.
Source: https://www.nst.com.my/business/2022/10/840...-market-listing
This post has been edited by msbr91: Oct 19 2022, 12:09 PM
IPO: Kumpulan Kitacon Berhad, Potential IPO - Main Market
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