KUALA LUMPUR (Oct 23): UK-based insurer Prudential Plc has emerged as a substantial shareholder in Solarvest Holdings Bhd (KL:SLVEST), with a 5.25% stake in the clean energy and solar photovoltaic specialist.

Prudential acquired 51.41 million shares in Solarvest on Oct 21 through funds managed by Eastspring Al-Wara’ Investments Bhd, which bought 24.36 million shares, and Eastspring Investments Bhd, which acquired 27.05 million shares.

The transaction price was not disclosed. Based on Solarvest’s closing price of RM3.97 on Oct 21, the shares were valued at approximately RM204.06 million.

Apart from Prudential, Solarvest’s other substantial shareholders include its co-founders managing director Lim Chin Siu and executive director Tan Chyi Boon.

Lim and Tan collectively hold a 20.15% stake through their private vehicle, Atlantic Blue Holdings Sdn Bhd. Lim also holds a direct 6.19% interest in Solarvest, while Tan has a 6.78% direct stake, according to the group’s annual report.

Solarvest’s net profit for the first quarter ended June 30, 2026 (1QFY2027) rose 19.8% to RM19.02 million from RM15.88 million a year earlier, mainly driven by higher contributions from associate companies.

Quarterly revenue increased 13.21% to RM155.94 million from RM137.74 million, supported by stronger contributions from utility-scale solar projects.

The group said growth was also underpinned by continued execution of the Corporate Green Power Programme (CGPP) and progress under the Large Scale Solar 5 (LSS5) programme.

Solarvest shares rose five sen or 1.27% to RM4 on Friday, giving the group a market capitalisation of RM3.92 billion.