Kuala lumpur: Solar photovoltaic system specialist JS Solar Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 48.32 times, ahead of its listing on the ACE Market of Bursa Malaysia on September 23, 2025.

According to BERNAMA News Agency, JS Solar’s IPO includes a public issue of 78 million new shares at an issue price of 31 sen per share. This accounts for 24 percent of the enlarged issued shares, with RM24.18 million anticipated to be raised.

In a filing with Bursa Malaysia, the company disclosed it received a total of 8,567 applications for 801 million issue shares valued at RM248.47 million, reflecting an overall oversubscription rate of 48.32 times.

For the bumiputera portion, the company received 4,324 applications for 385.26 million issue shares, marking an oversubscription rate of 46.42 times. Meanwhile, for the non-bumiputera portion, there were 4,243 applications for 416.26 million issue shares, with an oversubscription rate of 50.23 times.

Additionally, 19.50 million issue shares available for application by eligible persons have been fully subscribed. TA Securities Holdings Bhd is serving as the principal advisor, sponsor, underwriter, and placement agent for the IPO, while Eco Asia Capital Advisory Sdn Bhd is the financial advisor.