KUALA LUMPUR: Northern Solar Holdings Bhd has received Securities Commission Malaysia (SC) approval to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd.
The approval was granted under Section 214(1) of the Capital Markets and Services Act 2007 and is subject to Northern Solar and its principal adviser, Alliance Islamic Bank Bhd, fully complying with the requirements of the SC's Equity Guidelines for the proposed transfer.
"The SC also took note that Northern Solar has complied with the Bumiputera equity requirement applicable to public listed companies pursuant to its listing on the ACE Market of Bursa Securities,” Northern Solar said in a statement today.
The rooftop solar panel specialist first announced the proposed transfer on March 25, 2026, and submitted its application to the SC on March 30.
The proposed transfer marks the next stage of Northern Solar's development in Malaysia's capital market following its listing on the ACE Market on Feb 6, 2025.
"A Main Market listing is expected to enhance the company's corporate profile and visibility among a broader base of investors, including institutional investors,” it said.
Northern Solar and its advisers will proceed with the remaining requirements for the proposed transfer.
The company said it would make further announcements to Bursa Securities upon any material development. - Bernama
