KUALA LUMPUR, JS Solar Holding Bhd, a solar photovoltaic (PV) system provider, sustained its positive momentum at midday following its debut on Bursa Malaysia’s ACE Market earlier today.
By the lunch break, the counter gained 9.0 sen to 40 sen, with 55.47 million shares traded. JS Solar opened at 40 sen, marking a nine sen or 29.03 per cent premium over its initial public offering (IPO) price of 31 sen, with 6.98 million shares changing hands at the opening.
Managing director Datuk Johnson Chai Jeun Sian said the listing sets a strong foundation for growth and enables the group to tap into Malaysia’s expanding renewable energy (RE) sector.
“We see vast opportunities ahead, supported by the national target of achieving 70 per cent RE in the electricity mix by 2050, alongside initiatives like the large-scale solar (LSS) Petra 5+ programme, LSS-Sabah, and the Solar Accelerated Transition Action Programme,” he said.
He added that growing demand for engineering, procurement, construction and commissioning (EPCC) services, coupled with the adoption of advanced technologies such as Battery Energy Storage Systems (BESS), will further drive the company’s expansion.
JS Solar plans to utilise IPO proceeds of RM24.18 million to reinforce its market presence, with allocations including RM12.72 million (52.61 per cent) for bank loan repayments, RM3.20 million (13.23 per cent) for regulatory fees and head office renovations, RM1.55 million (6.39 per cent) for business expansion and marketing, RM2.52 million (10.40 per cent) for working capital, and RM4.20 million (17.37 per cent) for listing expenses.
Chai noted that JS Solar intends to leverage its experience as the main contractor for a BESS project at Kulim Hi-Tech Park, further integrating the technology to strengthen its role in Malaysia’s transition towards sustainable energy.
