Solar District Cooling Group Berhad announce that its Initial Public Offering on the ACE Market of Bursa Malaysia Securities Berhad for the Malaysian public has been oversubscribed by 144.08 times.
The company which is principally involved in the provision and maintenance of building management system (“BMS”), solar thermal systems and energy saving service received a total of 31,678 applications for 3,074,469,300 new Shares worth RM 1,168,298,334 from the Malaysian public, representing an oversubscription rate of 144.08 times.
Non-Independent Managing Director of SDCG, Mr. Edison Kong expressed his gratitude: “We are deeply honoured by the overwhelming response to our IPO. The strong investor interest is a clear endorsement of our strategic direction and the growth potential in BMS and energy performance services sector. We appreciate the trust that investors have placed in us, and we are committed to using this support to drive our expansion and innovation efforts.”
Mercury Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for this IPO exercise.
Solar District Cooling Group Berhad is set to debut on the ACE Market of Bursa Securities on 19 September 2024.
