PETALING JAYA: ES Sunlogy Bhd is seeking to list on the ACE Market of Bursa Malaysia, according to its prospectus exposure filed on the bourse yesterday.
The group is primarily involved in electrical engineering services for electricity supply distribution systems as well as mechanical engineering building services.
In addition, its activities also include the generation and sales of renewable energy (RE).
ES Sunlogy’s proposed initial public offering (IPO) will consist of the issuance of 140 million shares and an offer for sale of 70 million existing shares by way of private placement to selected investors.
Of the 140 million shares, 35 million new shares will be made available to the Malaysian public while another 17.5 million new shares will be allocated for application by eligible directors and employees.
A remaining 87.5 million new shares will be made available to bumiputra investors.
According to the group, it intends to embark on a number of strategies for the next 24 months from the listing date.
This will include developing its Selarong Large Scale Solar Photovoltaic plant that will have the capacity to export 29.99 megawatts to the utility grid, whereby the capital expenditure and operating expenditure for the plant are computed to be at RM131.5mil and RM3.23mil respectively.
It will also look at securing more solar projects to grow its revenue from the RE sector while increasing its market share within the mechanical and electrical engineering industry locally by tendering for more projects with larger contract sums.
