Kuala lumpur: Shares of JS Solar Holding Bhd, a solar photovoltaic (PV) system provider, continued to trade with an upward momentum after the company made its Bursa Malaysia ACE Market debut this morning. At lunch break, the counter added 9.0 sen to 40 sen with 55.47 million shares traded. JS Solar debuted at 40 sen, a nine sen or 29.03 per cent premium to its initial public offering (IPO) price of 31 sen. At the opening, 6.98 million shares changed hands.
According to BERNAMA News Agency, managing director Datuk Johnson Chai Jeun Sian expressed that the listing provides a solid foundation for growth and allows the company to capitalise on Malaysia’s expanding renewable energy (RE) sector. He stated, “We see significant opportunities ahead, anchored by the national target of achieving a 70 per cent RE share in the electricity supply mix by 2050, supported by initiatives such as large-scale solar (LSS) Petra 5+ programme, LSS-Sabah, and the Solar Accelerated Transition Action Programme.”
Chai further highlighted that strategic drivers are expected to boost demand for engineering, procurement, construction, and commissioning (EPCC) services and accelerate the adoption of advanced technologies. This includes the Battery Energy Storage Systems (BESS), which are key to enhancing grid stability and optimising energy efficiency within a solar-powered ecosystem.
The proceeds from the IPO will be utilised to strengthen JS Solar’s market presence in the solar PV industry. Chai noted, “In parallel, we intend to leverage our track record as the main contractor of a BESS project in Kulim Hi-Tech Park to integrate this technology into our portfolio, enabling JS Solar to benefit from the growing shift towards sustainable energy.”
Out of the RM24.18 million raised from the IPO, RM3.20 million (13.23 per cent) will be allocated towards regulatory fees and renovations for the new head office, RM12.72 million (52.61 per cent) for repayment of bank borrowings, 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) to cover listing expenses.