KUALA LUMPUR: JS Solar Holding Bhd
, a solar photovoltaic (PV) system provider, made its Bursa Malaysia ACE Market debut at 40 sen, a nine sen or 29.03% premium to its initial public offering (IPO) price of 31 sen.
At the opening, 6.98 million shares changed hands. At 5pm yesterday, the stock closed 29% up to 40 sen with 72.54 million shares traded hands. It was also the most actively traded stock.
Managing director Datuk Johnson Chai Jeun Sian said the listing provides a solid foundation for growth and allows the company to capitalise on Malaysia’s expanding renewable energy (RE) sector.
“We see significant opportunities ahead, anchored by the national target of achieving a 70% RE share in the electricity supply mix by 2050, and supported by initiatives such as large scale solar PETRA 5 (LSS5+), LSS-Sabah, and the Solar Accelerated Transition Action Programme,” he said in a statement.
“Strategic drivers are expected to boost demand for engineering, procurement, construction and commissioning (EPCC) services and accelerate adoption of advanced technologies, including battery energy storage systems (BESS), which are key to enhancing grid stability and optimising energy efficiency within a solar-powered ecosystem.”
Proceeds from the IPO will be used to strengthen JS Solar’s market presence in the solar PV industry.
“In parallel, we intend to leverage our track record as the main contractor of a BESS project in Kulim Hi-Tech Park to integrate this technology into our portfolio, enabling JS Solar to benefit from the growing shift towards sustainable energy.”
Of the RM24.18mil raised, RM3.20mil (13.23%) will go towards regulatory fees and renovations for the new head office, RM12.72mil (52.61%) for repayment of bank borrowings, RM1.55mil (6.39%) for business expansion and marketing, RM2.52mil (10.40%) for working capital, and RM4.20mil (17.37%) to cover listing expenses.
JS Solar and its subsidiaries (the group) reported unaudited first-quarter results for the period ended June 30, 2025, with revenue of RM23.98mil and profit after tax of RM2.07mil.
The EPCC segment remained the main revenue driver, contributing 99.18% of total revenue, followed by contracting services at 0.25% and operations and maintenance at 0.57%.
As of July 31, 2025, the group’s unbilled order book stood at RM39.74mil.
TA Securities Holdings Bhd acted as principal adviser, sponsor, underwriter and placement agent, while Eco Asia Capital Advisory Sdn Bhd served as financial adviser for the IPO.
