KUALA LUMPUR, Solar photovoltaic system provider JS Solar Holdings Bhd announced that its initial public offering (IPO) has been oversubscribed by 48.32 times, ahead of its debut on the ACE Market of Bursa Malaysia scheduled for Sept 23, 2025.
The IPO comprises a public issue of 78 million new shares at 31 sen per share, representing 24 per cent of the company’s enlarged share capital. The exercise is expected to raise RM24.18 million.
According to its filing with Bursa Malaysia, JS Solar received 8,567 applications for a total of 801 million shares, with an aggregate value of RM248.47 million, reflecting overwhelming demand.
For the bumiputera public portion, 4,324 applications were submitted for 385.26 million shares, translating into a 46.42 times oversubscription rate. Meanwhile, the non-bumiputera portion saw 4,243 applications for 416.26 million shares, equivalent to a 50.23 times oversubscription. In addition, all 19.5 million issue shares allocated for eligible persons were fully subscribed.
TA Securities Holdings Bhd is acting as the principal adviser, sponsor, underwriter, and placement agent for the IPO, with Eco Asia Capital Advisory Sdn Bhd serving as the financial adviser.
