ACE Market-bound JS Solar's IPO Oversubscribed By 48.32 Times

KUALA LUMPUR, Sept 11 (Bernama) -- Solar photovoltaic system specialist JS Solar Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 48.32 times, ahead of its listing on the ACE Market of Bursa Malaysia on Sept 23, 2025. 

JS Solar’s IPO entails a public issue of 78 million new shares at an issue price of 31 sen per share. This represents 24 per cent of the enlarged issued shares, with RM24.18 million expected to be raised.

In a filing with Bursa Malaysia, the company said it received a total of 8,567 applications for 801 million issue shares with a value of RM248.47 million, representing an overall oversubscription rate of 48.32 times.

“For the bumiputera portion, a total of 4,324 applications for 385.26 million issue shares were received, which represents an oversubscription rate of 46.42 times.

“For the non-bumiputera portion, a total of 4,243 applications for 416.26 million issue shares were received, which represents an oversubscription rate of 50.23 times,” it said.

Meanwhile, it said 19.50 million issue shares made available for application by the eligible persons have also been fully subscribed.

TA Securities Holdings Bhd is the principal advisor, sponsor, underwriter and placement agent for the IPO, while Eco Asia Capital Advisory Sdn Bhd is the financial advisor.

-- BERNAMA