KUALA LUMPUR (Aug 14): Solar photovoltaic (PV) system provider JS Solar Holding Bhd has signed an agreement with TA Securities Holdings Bhd to underwrite its upcoming initial public offering (IPO) on the ACE Market, targeted for the third quarter of this year.
The IPO involves a public issue of 78 million new ordinary shares, representing 24% of the company’s enlarged issued share capital, and an offer for sale of 19.5 million existing shares, or 6% of the enlarged issued share capital.
TA Securities will underwrite a total of 35.75 million new shares to be offered to the Malaysian public and to eligible directors, employees, and other persons who have contributed to the group’s success under the pink form allocation.
Through its subsidiaries, JS Solar principally provides engineering, procurement, construction and commissioning (EPCC) and contracting services for solar PV systems, as well as operations and maintenance services.
The group has built a strong track record in delivering solar PV systems across residential, commercial and industrial properties, as well as utility-scale projects. Its portfolio spans ground-mounted, floating and rooftop solar PV systems.
Managing director Johnson Chai Jeun Sian said in a statement that the IPO proceeds will be used to strengthen the group’s position in Malaysia’s solar PV industry.
He added that JS Solar is also exploring the integration of battery energy storage systems (BESS) into its EPCC offerings to meet the growing demand for reliable and stable renewable energy solutions. The group has completed a BESS project in Kulim Hi-Tech Park, underscoring its commitment to expanding its capabilities in advanced renewable energy technologies.
“These efforts will support our long-term growth and contribute to Malaysia’s broader energy transition agenda,” he added.
TA Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO, while Eco Asia Capital Advisory Sdn Bhd is the financial adviser for the IPO exercise.