KUALA LUMPUR: Verdant Solar Holdings Bhd
is planning to raise RM44.02mil through its initial public offering (IPO), ahead of its ACE Market listing on Bursa Malaysia on Oct 22, 2025.
The IPO entailed the issuance of 142 million new shares at 31 sen each.
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, 31.8% had been earmarked to finance the establishment of branch offices to better serve its customers, and 22.72% for expansion through strategic investments, merger and acquisition opportunities.
A total of 8.63% 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 at its prospectus launch here yesterday, managing director Lim Tzer Haur said the company commanded a growing market share of 10.9% in a competitive solar industry in Malaysia, based on the installed capacity of newly built residential solar photovoltaic installations.
“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.
“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 the surge in property transactions and increasing consumer demand for green energy is 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,” he said.
Application for Verdant’s IPO opened yesterday and will close at 5pm on Oct 7, 2025. Mercury Securities Sdn Bhd is the principal adviser, sponsor, sole underwriter, and sole placement agent for the listing exercise. — Bernama
