PETALING JAYA: Solar District Cooling Group Bhd (SDCG), which is set to debut on the ACE Market on Sept 19, has seen its initial public offering (IPO) oversubscribed by 144.08 times.
The company received 31,678 applications for 3.07 billion new shares, valued at about RM1.17bil.
The bumiputra portion was oversubscribed by 127.06 times, while the public category by 161.09 times.
SDCG is principally involved in the provision and maintenance of building management systems (BMS), solar thermal systems and energy saving services.
With an IPO price of 38 sen per share, SDCG aims to raise RM45.9mil.
Its non-independent managing director Edison Kong said the strong investor interest is an endorsement of the group’s strategic direction and the growth potential in BMS and energy performance services sector.
“This strong show of confidence encourages us to continue enhancing our capabilities and expanding our footprint in the BMS and energy performance services sector,” he noted.
