Malaysia Penang Photovoltaic Energy Storage IPO

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Malaysia Penang Photovoltaic Energy Energy Storage System

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6 Frequently Asked Questions about “Malaysia Penang Photovoltaic Energy Storage IPO”

How did northern solar IPO work?

Under the public issuance of the IPO, Northern Solar made 19.78 million shares available to the public and 7.91 million shares to eligible directors and employees. The company also set aside 39.56 million shares to bumiputera investors by way of private placement.

Will northern Solar Holdings Bhd raise rm64.8 million from public market?

KUALA LUMPUR (Dec 18): Solar renewable energy specialist Northern Solar Holdings Bhd, en route to list on the ACE Market of Bursa Malaysia on Feb 6, is looking to raise up to RM64.8 million from the public market to part-finance its business expansion and for working capital.

What would northern solar's IPO price look like?

At the IPO price of 63 sen per share, Northern Solar would have a market capitalisation of RM249.23 million upon listing based on its enlarged share capital of 395.6 million shares. This values the company at a price-to-earnings (P/E) ratio of 24 times its financial year ended March 31, 2024 (FY2024) earnings.

When will northern solar debut on Bursa Malaysia?

This article first appeared in Capital, The Edge Malaysia Weekly on February 3, 2025 - February 9, 2025 NORTHERN Solar Holdings Bhd, a solar renewable energy (RE) specialist, is set to debut on Bursa Malaysia this Thursday (Feb 6), marking the fourth Ace Market listing this year.

How many times was northern solar IPO oversubscribed?

The public portion of Northern Solar's IPO was oversubscribed by 73.2 times. Of the RM42.37 million raised from the public issue of the IPO, more than half — or RM29.17 million — was earmarked for working capital purposes while RM5.5 million is to repay bank borrowings and RM4.55 million is for listing-related expenses.

When does the IPO application close?

The IPO application closes on Jan 20. Northern Solar mainly provides engineering, procurement, construction and commissioning of solar photovoltaic (PV) systems, generation of renewable energy as well as operation and maintenance of solar PV equipment and systems.

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