KUALA LUMPUR: Verdant Solar Holdings Bhd
(Verdant) is planning to raise RM44.02 million through its initial public offering (IPO), ahead of its ACE Market listing on Bursa Malaysia Securities Bhd on Oct 22, 2025.
The IPO entails the issuance of 142 million new ordinary shares at an IPO price of RM0.31 per share.
Under the public issuance, 40.88 million shares are offered to the public, 25 million shares to eligible persons, and 76.12 million shares via private placement.
Of the total proceeds, 31.80 per cent has been earmarked to finance the establishment of branch offices to better serve its customers, and 22.72 per cent for expansion through strategic investments, mergers and acquisition opportunities.
Another 8.63 per cent will be utilised to enhance the company’s digital infrastructure to strengthen operational excellence, while the balance will be applied towards general working capital and listing-related expenses.
Speaking during the IPO prospectus launch here today, managing director Lim Tzer Haur said that the company commands a growing market share of 10.9 per cent in the very competitive solar industry in Malaysia, based on the installed capacity of newly built residential solar photovoltaic installations nationwide.
"With the proceeds from this IPO, the company aims to strengthen its market presence by expanding further across Peninsular Malaysia and advancing the digitalisation of our business.
"To achieve this, Verdant plans to establish new branch offices in Melaka, Kuantan, and Ipoh, enabling us to respond more promptly to business opportunities outside of the Klang Valley,” he said.
The company also intends to utilise the IPO proceeds for strategic investments, as well as mergers and acquisitions opportunities.
"These initiatives will be carefully aligned with Verdant’s business to enhance operational efficiencies and broaden our core services,” he said.
At the same time, Lim said that the surge in property transactions and increasing consumer demand for green energy is further fuelling the growth of Malaysia’s solar engineering, procurement, construction and commissioning market.
"With a large addressable market and rapidly growing installation values, Verdant is well-positioned to capture this momentum.
"We remain optimistic about the company’s prospects, and we strongly believe that Verdant is well-positioned for growth, empowered by a positive market outlook and reinforced by our competitive advantages,” he said.
On dividend policy, he said that as a shareholder of the company himself, he would personally welcome dividends.
"However, the primary purpose of listing is to allocate capital towards expansion and growth initiatives that can create greater long-term value for investors. At this stage, the focus remains on using the funds raised to grow the company.
"Any decision on dividends would be situational rather than policy-driven, reflecting what is in the best interests of shareholders at that time,” added Lim.
Application for Verdant’s IPO opens today (Sept 29) and closes at 5 pm on Oct 7, 2025.
Mercury Securities Sdn Bhd is the IPO’s principal adviser, sponsor, sole underwriter, and sole placement agent for the listing exercise. - Bernama
