ES Sunlogy Bhd, a leading provider of M&E engineering services and renewable energy solutions in Malaysia, has launched its IPO prospectus. The company aims to raise RM42 million through the issuance of 140 million new ordinary shares and will be listed on the ACE Market of Bursa Malaysia Securities. Proceeds from the IPO will be allocated to key growth initiatives including the development of a large-scale solar photovoltaic plant, repayment of borrowings, working capital, and the purchase of an enterprise resource planning system.
ES Sunlogy Bhd, a provider of mechanical and electrical (M&E) engineering services and renewable energy solutions, officially launched the prospectus for its initial public offering ( IPO ) today. The IPO , scheduled for listing on the ACE Market of Bursa Malaysia Securities, aims 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 strategically allocated to various key areas: RM14.
1 million will be invested in the development and construction of the Selarong large-scale solar photovoltaic plant, a significant step towards expanding ES Sunlogy's renewable energy portfolio. RM14 million will be used to repay existing borrowings, thereby strengthening the company's financial position and enhancing its creditworthiness. RM9.2 million will be allocated towards general working capital, ensuring the smooth operation of day-to-day activities and supporting future growth initiatives. A further RM700,000 will be earmarked for the purchase of an enterprise resource planning system, designed to optimize the group's overall operational efficiency and streamline business processes. Lastly, RM4 million will be allocated to cover IPO-related expenses. ES Sunlogy's managing director, Khor Chuan Meng, expressed his enthusiasm over the launch of the IPO prospectus, highlighting its significance as a new chapter in the company's growth story. He emphasized that the IPO will facilitate ES Sunlogy's acceleration in delivering high-quality M&E engineering solutions while actively contributing to Malaysia's renewable energy agenda. Khor further stated that the listing reflects the company's unwavering commitment to innovation, sustainability, and delivering long-term value to its stakeholders. Looking ahead, ES Sunlogy remains dedicated to its role as a frontrunner in Malaysia's renewable energy transition. Through its provision of solar solutions for residential and commercial properties, customized energy systems for industrial clients, and sustainable energy solutions for various industrial sectors, the company actively promotes energy savings and environmental sustainability. These initiatives, coupled with its participation in large-scale programs such as the Fifth Large Scale Solar Programme, align perfectly with its vision to expand its market share, venture regionally, and make a substantial contribution to Malaysia's sustainability and green energy ambitions. M&A Securities Sdn Bhd is serving as the principal adviser, sponsor, underwriter, and placement agent for ES Sunlogy's IPO, providing comprehensive support throughout the process
IPO Bursa Malaysia Renewable Energy M&E Engineering ES Sunlogy Solar Photovoltaic
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