Malaysia's Solarvest sets for IPO listing — raising MYR 35 million

Scheduled for 26th November this year.


Syamil Faisal

2 Oct, 2019

Malaysia's Solarvest sets for IPO listing — raising MYR 35 million | BEAMSTART News

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Solarvest offers engineering, procurement, construction and commissioning (EPCC) services of solar photovoltaic (PV) systems.

The energy company will issue 98.83 million new shares to the public — That’s 25% of its enlarged share capital at 35sen per share.

Solarvest allocated the RM35m capital as follows:

  • RM19.2 million for the group’s working capital
  • RM3 million for geographical expansion in the domestic and international market
  • RM4 million to strengthen technical capabilities
  • RM5 million to settle bank’s borrowing

This listing is scheduled on 26th November this year, with a market capitalisation of RM136.7 million.

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