Kuala Lumpur, 09 October 2025 — Verdant Solar Holdings Berhad (“Verdant Solar”) is set to make a strong debut on the ACE Market of Bursa Malaysia Securities Berhad, after its Initial Public Offering (IPO) received an overwhelming response from investors, with the public issue oversubscribed by 39.6 times.
According to Malaysian Issuing House Sdn Bhd (MIH), the company received a total of 16,737 applications for 1.66 billion new shares, far exceeding the 40.88 million shares made available to the Malaysian public. The impressive subscription reflects robust investor confidence in Verdant Solar’s business prospects within Malaysia’s rapidly expanding renewable energy sector.
Breakdown of the IPO
The IPO comprises a total of 215,586,000 shares at an issue price of RM0.31 per share, payable in full upon application. It consists of a public issue of 142,000,000 new ordinary shares and an offer for sale of 73,586,000 existing shares.
The public issue was divided as follows:
- 40,881,000 new shares available for application by the Malaysian public;
- 25,000,000 new shares available to eligible directors, employees, and persons who have contributed to Verdant’s success; and
- 76,119,000 new shares via private placement to selected investors.
Meanwhile, the offer for sale comprised 73,586,000 existing shares, also by way of private placement to selected investors.
Both the private placement tranches for new and existing shares have been fully placed out, confirmed by Mercury Securities Sdn Bhd, which acts as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent for Verdant’s IPO.
Strong Investor Demand
The Bumiputera public portion attracted 7,578 applications for 709.78 million shares, representing an oversubscription rate of 33.72 times. The other Malaysian public portion drew 9,159 applications for 949.81 million shares, marking an even higher oversubscription rate of 45.47 times.
The 25 million shares reserved for Verdant Solar’s eligible directors, employees, and contributors were fully subscribed, reflecting internal confidence in the company’s growth trajectory and market potential.
Notices of allotment will be mailed to successful applicants by 17 October 2025, paving the way for Verdant Solar’s expected listing on Bursa Malaysia’s ACE Market later this month.
Bright Outlook for a Solar Innovator
Verdant Solar is a fast-growing renewable energy player specializing in solar photovoltaic (PV) systems for both residential and commercial applications. The company has positioned itself as one of Malaysia’s emerging leaders in sustainable energy solutions, aligning its growth strategy with the National Energy Transition Roadmap (NETR) and Malaysia’s 2050 carbon-neutral target.
The strong investor appetite for the IPO signals confidence in Verdant’s ability to capture Malaysia’s accelerating adoption of clean energy, driven by government incentives, rising electricity tariffs, and corporate sustainability commitments.
