KUALA LUMPUR: Solar photovoltaic (PV) system company JS Solar Holding Bhd
has signed a deal with TA Securities Holdings Bhd for the underwriting of 35.75 million shares made available to the Malaysian public and via pink form allocations in conjunction with the company's initial public offering (IPO).
JS Solar - which is principally involved in engineering, procurement, construction, and commissioning (EPCC) services and contracting services for solar PV systems, along with operations and maintenance (O&M”) services - is scheduled to be listed on the ACE Market of Bursa Malaysia by the third quarter of 2025.
In a statement, the company said the IPO exercise entails a public issue of 78 million new ordinary shares, representing 24% of the company’s enlarged issued share capital, as well as an offer for sale of 19.5 million existing shares , representing 6% of the enlarged issued share capital.
Of the 78 million issue Shares, 16.25 million issue shares will be made available to the Malaysian Public via balloting; 19.5 million issue shares to eligible directors, employees, and other persons under pink form allocations; and 42.25 million issue Shares by way of private placement to selected investors.
The 19.50 million offer shares will be made available by way of private placement to selected investors.
JS Solar managing director Johnson Chai Jeun Sian said the funds raised via the IPO will be channelled towards strengthening its position in Malaysia’s solar PV industry.
"We are also actively exploring opportunities to integrate BESS into our EPCC offerings to meet the growing demand for reliable and stable renewable energy solutions. These efforts will support our long-term growth and contribute to Malaysia’s broader energy transition agenda,” he added.
TA Securities serves as the principal adviser, sponsor, underwriter and placement agent, while Eco Asia Capital Advisory Sdn Bhd serves as the financial adviser for the IPO exercise.
