WATCH: Northern Solar eyes solar energy expansion post-IPO Northern Solar currently owns and operates 17 solar PV systems, alongside four additional systems held under its 20%-owned associate, Engtex Energy Sdn Bhd, where pipe and valve manufacturer Engtex Group Bhd (KL: ENGTEX ) owns the remaining 80% stake.
At an IPO price of 63 sen per share, Northern Solar’s market capitalisation is projected to be RM249.2mil after listing, based on its enlarged share capital of 395.6 million shares. The IPO is open for subscription from today to Jan 20, 2025. M & A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO exercise.
Northern Solar has built a robust track record in the engineering construction and commissioning (EPCC) of photovoltaic systems. The company’s portfolio — which includes multiple solar PV systems and the ownership of Engtex Energy Sdn Bhd — is poised to deliver steady income in the years ahead.
With the IPO on the horizon, Northern Solar is poised to play a significant role in the global transition to renewable energy. The company’s commitment to innovation and sustainability, coupled with its strategic expansion plans, positions it as a key player in the future of energy.
Under the listing exercise, Northern Solar is issuing 67.3 million new shares and an offer for sale of 35.6 million existing shares, representing 17.0% and 9.0% of the enlarged share capital of Northern Solar respectively.
The global solar power capacity is expected to rise to 2,839 GW by 2030, according to a report by the International Renewable Energy Agency (IRENA). Northern Solar’s ongoing and future projects are set to contribute significantly to this growth, therefore reinforcing the company’s commitment to renewable energy and sustainable development.
"This IPO is the next natural step for Northern Solar as it comes in light of the trends Malaysia and indeed the region is seeing in term of awareness in preserving our environment and addressing climate change challenges," Lew said during the launch of the company’s IPO prospectus, seeking to raise up to RM64.8 million.
WATCH: Northern Solar eyes solar energy expansion post-IPO Northern Solar currently owns and operates 17 solar PV systems, alongside four additional systems held under its 20%-owned associate, Engtex Energy Sdn Bhd, where pipe and valve manufacturer Engtex Group Bhd (KL: ENGTEX ) owns the remaining 80% stake.
ACE Market-bound Northern Solar Holdings Bhd plans to expand its coverage across Malaysia, targeting key regions especially in Johor and Penang, among others, on top …
LATEST NEWS : Fahmi calls on parents to control minors'' social media use for ... Dec 18 (Bernama) -- Solar renewable energy specialist Northern Solar Holdings Bhd aims to raise RM42.4 million through its initial public offering (IPO) in conjunction with its listing on the ACE Market of Bursa Malaysia. The IPO involves the public issue of 67.3 million new shares …
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For the latest financial year ended March 31, 2024, Northern Solar recorded net profit of RM10.09 million on the back of RM77.97 million revenue. The offer-for-sale, meanwhile, will be done through private placement to select investors.
NORTHERN Share Price, Northern Solar Holdings Berhad is specializes in renewable energy with a focus on solar power. The company is primarily engaged in the Engineering, Procurement, Construction, and Commissioning (EPCC) of solar photovoltaic (PV) systems, which includes comprehensive services such as engineering design, procurement ...
While pricing details are yet to be finalized, they are expected to be announced by the end of this month (following the submission of the draft prospectus to Bursa Malaysia). "This IPO marks a pivotal moment for Northern Solar as we seek to expand our footprint in the renewable energy sector" said CEO of Northern Solar Holdings.
ACE Market-bound Northern Solar Holdings Bhd plans to expand its coverage across Malaysia, targeting key regions especially in Johor and Penang, among others, on top of its existing market in the Klang Valley and Selangor areas, according to …
The solar renewable energy specialist plans to use RM29.2mil (68.8%) of the proceeds raised from the IPO for working capital purposes to expand its solar photovoltaic …
KUALA LUMPUR: Solar renewable energy specialist Northern Solar Holdings Bhd aims to raise RM42.4 million through its initial public offering (IPO) in conjunction with its listing on the ACE Market of Bursa Malaysia.
The solar renewable energy specialist plans to use RM29.2mil (68.8%) of the proceeds raised from the IPO for working capital purposes to expand its solar photovoltaic (PV) systems business.
New IPO: Swift Energy Technology Berhad, an industrial automation and power systems provider, aims to list on the ACE Market! MQ Trader 8914 views | 8 d ago. 0:17 . New IPO: Carlo Rino Group Berhad, a leading fashion retailer of women''s handbags, footwear, and accessories, aims to list on the ACE Market! MQ Trader 3625 views | 21 d ago. 0:43 . M & A …
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For the latest financial year ended March 31, 2024, Northern Solar recorded net profit of RM10.09 million on the back of RM77.97 million revenue. The offer-for-sale, meanwhile, will be done through private …
Stock name: NORTHERN, Stock Code: 0340, Company: NORTHERN SOLAR HOLDINGS BERHAD, Sector:
For its latest financial year ended March 31, 2024 (FY24), Northern Solar saw its net profit grow by 65% to RM10.09mil compared to RM6.12mil in FY23. Revenue grew by almost 75% to RM77.97mil from RM44.67mil in FY23.
Northern Solar offers an unbeatable variety of services at affordable prices to all of our clients. Clients who decide to work with us can take advantage of our knowledge and experience, which allows us to offer a range of extra services we provide, such as Maintenance and Repair Services, upgrades, and Solar Thermal and Solar Energy Consultation.
Northern Solar said that based on its enlarged share capital of 395.6 million shares at a share price of RM0.63, the market capitalisation is projected to be RM249.2 …
At the IPO price of 63 sen per share, Northern Solar would have a market capitalisation of RM249.23 million upon listing based on its enlarged share capital of 395.6 …
NORTHERN Share Price, Northern Solar Holdings Berhad is specializes in renewable energy with a focus on solar power. The company is primarily engaged in the Engineering, Procurement, …
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Northern Solar said that based on its enlarged share capital of 395.6 million shares at a share price of RM0.63, the market capitalisation is projected to be RM249.2 million. The IPO is open for subscription from today to Jan 20, 2025. M & A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO exercise.-- BERNAMA
For its latest financial year ended March 31, 2024 (FY24), Northern Solar saw its net profit grow by 65% to RM10.09mil compared to RM6.12mil in FY23. Revenue grew by almost 75% to RM77.97mil from …
While pricing details are yet to be finalized, they are expected to be announced by the end of this month (following the submission of the draft prospectus to Bursa Malaysia). "This IPO marks a pivotal moment for …
KUALA LUMPUR: Northern Solar Holdings Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia.
KUALA LUMPUR: Solar renewable energy specialist Northern Solar Holdings Bhd aims to raise RM42.4 million through its initial public offering (IPO) in conjunction with its listing on the ACE …
At the IPO price of 63 sen per share, Northern Solar would have a market capitalisation of RM249.23 million upon listing based on its enlarged share capital of 395.6 million shares. This values the company at a price-to-earnings (P/E) ratio of 24 times its financial year ended March 31, 2024 (FY2024) earnings.
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