Kuala lumpur: 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, scheduled for September 23, 2025. In a statement today, the solar photovoltaic company announced that upon listing, it will have a market capitalisation of RM100.75 million, based on an enlarged issued share capital of 325 million shares and an IPO price of 31 sen per share.

According to BERNAMA News Agency, the IPO exercise involves a public issue of 78 million new ordinary shares, representing 24 percent of its enlarged issued share capital after the IPO, with RM24.18 million expected to be raised. Additionally, there is an offer for sale of 19.5 million existing shares, representing six percent of the enlarged issued share capital, by way of private placement to selected investors.

Of the 78 million issue shares, 16.25 million were allocated to the Malaysian public, from which the company received 8,567 applications for 801.52 million issue shares valued at approximately RM248.47 million, representing an oversubscription rate of 48.32 times. The 19.50 million issue shares made available for application by eligible directors and employees, as well as persons who have contributed to the group’s success, were fully subscribed. The private placement of 42.25 million issue shares and 19.5 million offer shares to selected investors was also fully placed out.

JS Solar managing director Johnson Chai Jeun Sian stated that the proceeds will be used to strengthen its presence in Peninsular Malaysia and Sabah, while driving the integration of battery energy storage systems into its solutions. The industry outlook is supported by the government’s commitment to a sustainable economy through a strategic plan and policies such as the National Energy Transition Roadmap (NETR).

TA Securities Holdings Bhd serves as the principal adviser, sponsor, underwriter and placement agent, while Eco Asia Capital Advisory Sdn Bhd is the financial adviser for the IPO.