KUALA LUMPUR, 29 September 2025 – Verdant Solar Holdings Berhad (“Verdant” or “the Company”), a leading player in Malaysia’s renewable energy sector, has officially unveiled its Initial Public Offering (IPO) prospectus today. This milestone sets the stage for its upcoming listing on the ACE Market of Bursa Malaysia Securities Berhad, slated for 22 October 2025, underscoring the company’s ambition to accelerate growth in the fast-rising solar photovoltaic (PV) industry.
The IPO exercise will see Verdant raise an estimated RM44.02 million through the issuance of 142 million new ordinary shares at RM0.31 per share. Based on its enlarged share capital of 817.6 million shares, the listing values Verdant at a market capitalisation of RM253.46 million.
Strategic Allocation of IPO Proceeds
The funds raised are earmarked to support Verdant’s strategic expansion and operational upgrades. Approximately 31.8% will go towards establishing new branch offices to strengthen customer reach, particularly in secondary growth regions such as Melaka, Kuantan, and Ipoh. Another 22.7% has been allocated for mergers, acquisitions, and strategic investments, highlighting Verdant’s intention to consolidate its market presence.
Meanwhile, 8.6% of the proceeds will be channelled into bolstering digital infrastructure, including enhancements to the company’s Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) systems, as well as improvements to its proprietary Verdant Home App, which supports after-sales solar operations and maintenance. The remainder will cover working capital needs and listing-related expenses.
Strengthening Position in Malaysia’s Solar Industry
Verdant has built a strong reputation as an end-to-end solar EPCC (Engineering, Procurement, Construction, and Commissioning) contractor with over a decade of experience in turnkey solar PV solutions. The company also operates in after-sales services, offering comprehensive Operations and Maintenance (O&M) solutions via its digital platforms, and markets solar-related products including the Verdant Star ventilation system.
Managing Director Lim Tzer Haur reflected on the significance of this IPO, saying:
“Our proposed listing on the ACE Market is not only a milestone but a testament to nearly a decade of dedication and expertise. From our beginnings in 2015 to becoming a trusted end-to-end solar solutions and services provider, this IPO provides the platform for Verdant Solar to sustain and accelerate our growth. Guided by our purpose to Change the Way People Get Power, we remain committed to making solar solutions accessible to everyone.”
He added that the company is well-positioned to tap into the Solar ATAP programme set to be launched in 2026, which is expected to spur demand for solar installations across Malaysia. “With these initiatives and expansion strategies, we are confident of delivering long-term value to our stakeholders,” Lim said.
IPO Timeline and Advisory
The IPO application period opens today (29 September 2025) and will close on 7 October 2025 at 5.00 p.m. Mercury Securities Sdn Bhd has been appointed as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent for the exercise.
With Malaysia’s renewable energy sector gaining fresh momentum from both government incentives and private sector adoption, Verdant Solar’s ACE Market debut will be closely watched by investors seeking exposure to the country’s clean energy growth story.
