Northern Solar Holdings Bhd has secured approval from the Securities Commission Malaysia (SC) to transfer its entire issued share capital from Bursa Malaysia’s ACE Market to the Main Market.
The approval, granted under Section 214(1) of the Capital Markets and Services Act 2007, is subject to Northern Solar and its principal advisor, Alliance Islamic Bank Bhd, complying with the SC’s Equity Guidelines for the proposed transfer.
The SC also noted that Northern Solar has met the Bumiputera equity requirement applicable to public-listed companies arising from its ACE Market listing.
Northern Solar first announced the proposed transfer on March 25, 2026, before submitting its application to the SC on March 30.
The move marks the next phase of the company’s capital market journey following its ACE Market debut on Feb 6, 2025.
Northern Solar expects a Main Market listing to strengthen its corporate profile and broaden its appeal to investors, including institutional funds.
The company and its advisors will now proceed with the remaining requirements and will announce further material developments to Bursa Malaysia.
