VERDANT SOLAR HOLDINGS BERHAD GEARS UP FOR ACE MARKET DEBUT, UNVEILS IPO PROSPECTUS
Verdant Solar Holdings Berhad (“Verdant” or “the Company”), a provider of Engineering, Procurement, Construction and Commissioning (“EPCC”) and Operations and Maintenance (“O&M”) services for solar photovoltaic (“PV”) systems in Malaysia, has today launched its Initial Public Offering (“IPO”) prospectus. This event marks a significant step towards the Company’s proposed listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 22 October 2025.
With strong growth potential amidst the booming residential property market, supported by government-initiated solar programmes and its proven track record of more than a decade, Verdant aims to raise estimated gross proceeds of RM44.02 million through the issuance of 142,000,000 new ordinary shares at an IPO price of RM0.31 per share. Based on the Company’s enlarged issued share capital of 817,618,243 shares and the IPO price, Verdant’s market capitalisation will be approximately RM253.46 million.
The proceeds from the IPO will be channelled towards supporting Verdant’s business expansion. Of the total, 31.80% has been earmarked to finance the establishment of branch offices to better serve its customers; 22.72% will be allocated for expansion through strategic investments, mergers and acquisition opportunities; and 8.63% will be utilised to enhance the Company’s digital infrastructure to strengthen operational excellence. The balance will be applied towards general working capital and listing-related expenses.
As an EPCC contractor, Verdant is principally involved in the end-to-end delivery of turnkey solar PV projects, covering initial design and engineering, equipment procurement, on-site installation, testing and commissioning, as well as after-sales O&M services through the Verdant Home App. The Company also engages in the trading of solar products, including its in-house brand of solar ventilation systems, Verdant Star.
Lim Tzer Haur, Managing Director of Verdant Solar Holdings Berhad said, “Our proposed listing on the ACE Market marks not only a milestone but also a testament to nearly a decade of dedication and expertise. From our beginnings in 2015 to becoming a trusted end-to-end solar solutions and services provider, this IPO will provide the platform for Verdant Solar to sustain and accelerate our growth. Guided by our purpose to ‘Change the Way People Get Power’, we remain committed to making solar solutions accessible to everyone.”
“With the proceeds raised, we plan to strengthen our market presence through new branch offices in Melaka, Kuantan, and Ipoh, expand through strategic investments as well as merger and acquisition, and enhance our digital infrastructure, including our ERP and CRM systems as well as the Verdant Home App. With the upcoming Solar ATAP programme primed to drive demand for solar installation in 2026, we believe these initiatives will position us to capitalize on this opportunity in Malaysia and ensure long-term value for our stakeholders,” he further added.
In conjunction with the launch, the application period for Verdant Solar Holdings Berhad’s IPO will commence today (29 September) and close on 7 October 2025 at 5.00 p.m. Mercury Securities Sdn Bhd is the IPO’s Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent.
-Ends-