KUALA LUMPUR (May 7): Construction services provider Tuju Setia Bhd, which is set to be the first company to be listed on the Main Market of Bursa Malaysia this year on May 19, saw its initial public offering (IPO) of 80 million new shares oversubscribed by 42.1 times.
The offer price is at 70 sen per share.
In a statement today, Tuju Setia said it received a total of 21,292 applications for 682.3 million shares with a total value of RM477.6 million for the 15.9 million shares that were made available for application by the Malaysian public.
Meanwhile, the Bumiputera portion of shares was oversubscribed by 37.2 times, after a total of 11,006 applications for 302.8 million shares were received.
KUALA LUMPUR (April 26): Construction services company Tuju Setia Bhd, which is slated to be listed on the Main Market of Bursa Malaysia on May 19, is planning to raise RM56 million from its initial public offering (IPO) for its growth plans.
In a statement in conjunction with its prospectus launch today, the company said its IPO involves a public issuance of 80 million new shares priced at 70 sen apiece, along with an offer for sale of 27 million existing shares.
Tuju Setia the first company to be listed on the Main Market in 2021 will have a market capitalisation of RM222 million upon the listing.
The construction company is slated to be listed on the Main Market on May 19.
Managing director Wee Eng Kong said RM32 million of the proceeds will be allocated for capital expenditure to purchase new construction machinery and equipment, and Building Information Modelling (BIM) system software to upskill its design and construction activities.
Tuju Setia is also planning to acquire land and construct new storage facilities for its machinery and equipment and improve the efficiency of maintenance works.
Speaking to reporters at the launch of its prospectus today, Wee said a further RM19 million will be set aside for working capital and RM5 million to defray listing expenses.
Tuju Setia expects to raise RM56 million from listing exercise thesundaily.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesundaily.my Daily Mail and Mail on Sunday newspapers.
Tuju Setia managing director Wee Eng Kong (pic) said the project would broaden the group’s portfolio of high-rise buildings and add to its current order book
KUALA LUMPUR: Tuju Setia Bhd, which is en route to list on the Main Market of Bursa Malaysia, has bagged a contract worth RM143.5mil from FDM Development Sdn Bhd, a wholly-owned subdsidiary of Glomac Bhd
, to build a high-rise development in Petaling Jaya.
In a statement, the construction services company said its fully owned-subsidiary, Pembinaan Tuju Setia Sdn Bhd (PTS), which secured the contract, would undertake as the main contractor to provide construction works for the project namely, 121 Residences.