Sunview Group debuted on the ACE Market of Bursa Malaysia Securities Berhad at RM0.595, representing a 105.17% premium over its issue price of RM0.290 per share, with an opening volume of 8.82 million shares. Sunview is listed under the name ‘SUNVIEW’ and stock code of ‘0262’.
Prior to this, Sunview’s public portion of its IPO was oversubscribed by 63.19 times.
The listing exercise successfully raised RM34.22 million via the issuance of 118.00 million new shares, of which RM20.10 million or 58.72% of the proceeds have been earmarked to fund the Group’s working capital requirements. RM7.00 million or 20.46% will go towards repayment of bank borrowings. Another RM1.86 million or 5.42% has been allocated towards capital expenditure and RM1.67 million or 4.88% for business expansion. The remaining RM3.60 million or 10.52% will be used to defray listing expenses.
Sunview CEO, Ong Hang Ping said, “Getting to where we are now within a relatively short amount of time is a testament of the collective effort our management team and employees have poured in over the past nine years. Without them, we would not have been able to achieve our transformation into an integrated renewable energy player, specialising in engineering, procurement, construction and commissioning, as well as construction and installation services for solar PV facilities, provision of solar power generation and supply as well as associated services and products.
However, our progress doesn’t stop here. We intend to capitalise on our listing status to sustain our growth momentum going forward.”
