KUALA LUMPUR, Sept 8, 2025 — Solar solutions provider Verdant Solar Holdings Berhad has taken a decisive step towards its Initial Public Offering (IPO), signing an underwriting agreement with Mercury Securities Sdn Bhd in preparation for its listing on the ACE Market of Bursa Malaysia Securities.
The IPO exercise will involve a public issuance of 142 million new ordinary shares, collectively known as the “Issue Shares.” Out of this, Mercury Securities will underwrite 65.88 million Issue Shares, comprising:
- 40.88 million shares to be offered to the Malaysian public via balloting.
- 25 million shares available for application by Verdant Solar’s eligible directors, employees, and individuals who have contributed to the success of the company and its subsidiaries.
The remaining 76.12 million Issue Shares will be placed out to selected investors by way of private placement.
In addition to the new issuance, the IPO also includes an offer for sale of 73.59 million existing shares, also through private placement to selected investors.
Proceeds to Fuel Expansion and Digitalisation
Verdant Solar said funds raised from the IPO will be strategically channelled towards strengthening its business footprint. Key initiatives include the establishment of new branch offices in Melaka, Kuantan, and Ipoh to better serve customers, as well as potential strategic investments, mergers, and acquisitions opportunities to accelerate growth.
The company also intends to upgrade its digital infrastructure to enhance operational efficiency and customer engagement. Part of the proceeds will be allocated for working capital requirements and listing expenses.
Strengthening Foundations for Growth
Managing Director Lim Tzer Haur expressed confidence that the IPO will mark a pivotal moment in Verdant Solar’s journey:
“This IPO will not only strengthen our foundation but also enhance our ability to deliver greater value to our customers and stakeholders. As we look ahead, we remain committed to advancing our vision of making sustainable energy accessible and impactful for communities nationwide.”
With sustainability at the heart of its business model, Verdant Solar aims to ride the momentum of Malaysia’s renewable energy transition and the growing demand for affordable solar solutions.
The company is expected to make its official market debut in October 2025. Mercury Securities is acting as the IPO’s Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent.
