Petaling Jaya: ES Sunlogi Bhd, a provider of mechanical and electrical (M&E) engineering services and renewable energy solutions, today launched the prospectus for its initial public offering (IPO) with the listing of the company on the ACE Market of Bursa Malaysia Securities.
The IPO is set to raise RM42 million through the issuance of 140 million new ordinary shares at a retail price of 30 sen per share.
Proceeds from the IPO will be allocated as follows: RM14.1 million for the development and construction of the Selerong large-scale solar photovoltaic plant, RM14 million for repayment of borrowings to strengthen its financial position, for general working capital. RM9.2 million to support its day-to-day operations, RM4 million for the purchase of an enterprise resource planning system to enhance the group’s overall operating efficiency and RM4 million for IPO expenses RM700,000.
Managing Director Khor Chuan Meng said the launch of the IPO prospectus is a proud moment for ES Sunlogi, marking a new chapter in its growth and corporate journey.
He said the IPO will enable the company to accelerate its efforts in delivering high-quality M&E engineering solutions while advancing Malaysia’s renewable energy agenda. “This listing reflects our long-term commitment to innovation, sustainability and delivering long-term value to our stakeholders,” he said.
Looking ahead, Khor said ES Sunlogy remains committed to its role as a leader in Malaysia’s renewable energy transition.
By delivering solar solutions for residential and commercial properties, providing customized energy systems for industrial customers and supplying sustainable energy solutions for industrial sectors, the company supports energy savings and sustainability. These initiatives, coupled with its participation in large-scale programs such as the Fifth Large Scale Solar Programme, are in line with its vision to increase its market share, expand regionally and contribute meaningfully to Malaysia’s sustainability and green energy goals. align with.
M&A Securities SDN BHD ES is the lead advisor, sponsor, underwriter and placement agent for Sunlogy’s IPO.
