PETALING JAYA: ES Sunlogy 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) in conjunction with the company’s listing 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 Selarong large-scale solar photovoltaic plant, RM14 million for the repayment of borrowings to strengthen its financial position, RM9.2 million for general working capital to support its day-to-day operations, RM700,000 for the purchase of an enterprise resource planning system to enhance the group’s overall operational efficiency and RM4 million for IPO expenses.
Managing director Khor Chuan Meng said the launch of the IPO prospectus is a proud moment for ES Sunlogy, marking a new chapter in its growth and corporate journey.
He added that 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 forward, 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 customised energy systems for industrial clients and supplying sustainable energy solutions for industrial sectors, the company supports energy savings and sustainability. These initiatives, combined with its participation in large-scale programmes such as the Fifth Large Scale Solar Programme, align with its vision to grow its market share, expand regionally, and contribute meaningfully to Malaysia's sustainability and green energy goals.
M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for ES Sunlogy’s IPO.
