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.
