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KUALA LUMPUR, Verdant Solar Holdings Bhd (Verdant) is set to raise RM44.02 million through its initial public offering (IPO) ahead of its ACE Market debut on Bursa Malaysia Securities Bhd, scheduled for Oct 22, 2025. The IPO involves the issuance of 142 million new ordinary shares at RM0.31 each. Of this, 40.88 million shares will be offered to the public, 25 million shares to eligible persons, and 76.12 million shares via private placement. Verdant plans to allocate 31.8% of the proceeds to establish new branch offices to enhance customer service, 22.72% for expansion through strategic investments, mergers, and acquisitions, and 8.63% to improve its digital infrastructure and operational capabilities. The remainder will be used for general working capital and listing-related expenses. During the IPO prospectus launch, managing director Lim Tzer Haur highlighted that Verdant currently holds a 10.9% market share in Malaysia’s residential solar photovoltaic sector. He said the IPO proceeds would help the company expand its footprint beyond the Klang Valley, with new branches planned in Melaka, Kuantan, and Ipoh. Lim also noted that the funds will support strategic investments and acquisitions, all aimed at improving operational efficiency and broadening Verdant’s core services. He pointed to the surge in property transactions and growing demand for green energy as key drivers for the company’s growth in Malaysia’s solar EPC (engineering, procurement, construction, and commissioning) market. “Verdant is well-positioned to capitalise on the expanding market and installation opportunities, and we are optimistic about the company’s growth prospects, supported by our competitive strengths,” Lim said. Regarding dividends, Lim explained that the company’s current priority is using the IPO proceeds for growth initiatives. Any dividend decisions will be situational, based on what is in the best interest of shareholders at the time. Applications for Verdant’s IPO open today (Sept 29) and will close at 5 pm on Oct 7, 2025. Mercury Securities Sdn Bhd serves as the IPO’s principal adviser, sponsor, sole underwriter, and sole placement agent.

KUALA LUMPUR, DGB Asia Bhd (KL:DGB), a provider of software and engineering solutions, has proposed a capital reduction exercise to cancel RM197 million of its issued share capital that is lost and not backed by assets. According to a Bursa Malaysia filing, the resulting RM197 million credit from the cancellation will be applied to offset the company’s accumulated losses. As of Sept 10, 2025, DGB Asia’s total issued share capital stood at RM240,336,110, comprising 278,243,279 ordinary shares. The company also has 52,272,900 outstanding share issuance scheme (SIS) options, and the board has committed not to grant any additional SIS options until the capital reduction is completed. “The proposed capital reduction will help the company and group streamline their financial position by lowering accumulated losses. This is expected to strengthen credibility with bankers, customers, suppliers, and investors,” DGB Asia said. The company added that the exercise will not have any significant impact on the group’s earnings or earnings per share for the financial year ending Dec 31, 2025.

PETALING JAYA, Creditor banks including Malayan Banking Bhd (Maybank), CIMB Group Holdings Bhd, and RHB Bank Bhd are set to record earnings gains from the restructuring of Vantris Energy Bhd, formerly known as Sapura Energy Bhd. Maybank ended up with a 20.27% stake in Vantris Energy following the execution of its restructuring scheme. The oil and gas services provider recently completed its regularisation plan to exit Practice Note 17 (PN17) status, which saw Maybank, CIMB, and RHB emerge as major shareholders of the rebranded company. In a research note, MBSB Research estimated that the restructuring could contribute as much as 2.3% to the creditor banks’ earnings in the current financial year. It said the banks are expected to recognise contributions from settlement shares, which were issued at 80 sen apiece. Based on Vantris’ current market price of 53 sen per share, MBSB calculated that the proceeds translate into an uplift of between 1.5% and 2.3% of net profit this year. The research house added that Maybank is expected to enjoy the “largest absolute impact” as it emerged with a 20.27% stake in Vantris following the restructuring. In a filing with Bursa Malaysia last Friday, Maybank disclosed that Vantris had issued 462.45 million new shares and 498.48 million redeemable convertible unsecured Islamic debt securities (RCUIDS) to the bank and its subsidiary Maybank Islamic Bhd. This issuance formed part of the settlement of liabilities owed by Sapura TMC Sdn Bhd, a wholly owned subsidiary of Vantris. Similarly, CIMB Group revealed that its subsidiaries also received securities under the exercise. CIMB Bank Bhd was allotted 208.93 million shares and 225.21 million RCUIDS, while CIMB Islamic Bank Bhd received 67.73 million shares and 73.01 million RCUIDS. Combined, CIMB now holds a 12.13% stake in Vantris. Meanwhile, RHB Bank Bhd announced that its subsidiary, RHB Islamic Bank, was issued 164.56 million shares and 177.39 million RCUIDS, giving the group a 7.21% indirect stake in Vantris. MBSB noted that other listed creditors, such as AMMB Holdings Bhd (AMMB), did not make announcements, likely because their holdings fell below the 5% threshold required for disclosure. Exit from PN17 Vantris, which slipped into PN17 status in 2022 due to financial distress, obtained regulatory approval in June for its regularisation plan. The plan includes a 99.99% capital reduction to offset accumulated losses and a 20-to-one share consolidation to streamline the number of shares in circulation. It also involves a large-scale debt restructuring exercise that will slash total borrowings from RM10.8 billion to RM5.6 billion, reducing annual interest expenses by more than RM500 million, or about 60%. Additionally, the Ministry of Finance, via Malaysia Development Holding Sdn Bhd (MDH), will inject RM1.1 billion through redeemable convertible loan stocks (RCLS). Proceeds from this subscription will go towards settling outstanding debts owed to Malaysian oil and gas vendors. Upon full conversion of the RCLS, MDH could emerge as Vantris’ single largest shareholder with a stake of more than 33%, overtaking Permodalan Nasional Bhd (PNB), whose shareholding may be diluted to just above 5%. Vantris’ shares closed 3.5 sen higher, or 6.6%, at 56 sen yesterday, valuing the company at RM1.29 billion.

KUALA LUMPUR, Ekovest Bhd and its major shareholder, Tan Sri Lim Kang Hoo, have once again agreed to extend the deadline to finalise the proposed acquisition of Credence Resources Sdn Bhd (CRSB), pushing it from Oct 1, 2025, to Oct 29, 2025. In a filing with Bursa Malaysia today, the company said the latest extension was necessary to allow both parties additional time to deliberate on the structure of the deal and to continue discussions and negotiations on the terms of the definitive agreement. Ekovest noted that this is not the first extension granted for the deal. The company has revised the timeline on several occasions, with the most recent extension made on Sept 30, 2025. Each extension, it said, reflects the complexity of the negotiations and the need to ensure that all stakeholders’ interests are taken into account before a binding agreement is finalised. The proposed acquisition, first announced on Oct 28, 2023, involves the purchase of a 70% stake in CRSB for a total consideration of RM1.15 billion. If completed, the transaction would significantly strengthen Ekovest’s position in the infrastructure and property development sectors, while also broadening its investment portfolio. Industry observers view the acquisition as a strategic move for Ekovest, which has been expanding its footprint in large-scale infrastructure projects and urban development initiatives. CRSB is expected to complement Ekovest’s existing businesses and potentially unlock synergies that could enhance long-term growth prospects. Ekovest added that it remains committed to completing the proposed acquisition despite the multiple extensions. The group emphasised that the decision to extend the deadline underscores its cautious and deliberate approach, ensuring that the terms of the deal are aligned with the company’s financial and strategic objectives. The company assured shareholders that further updates on the progress of the proposed acquisition would be announced in due course.