Thursday 28 Mar 2024
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KUALA LUMPUR (July 27): Solar photovoltaic (PV) system construction group Sunview Group Bhd has received the nod from Bursa Malaysia Securities Bhd to list on the ACE Market, and is expected to make its debut in the fourth quarter of this year (4Q22).

Sunview is involved in the provision of engineering, procurement, construction and commissioning of solar PV facilities for commercial and industrial (C&I) and residential buildings.

The initial public offering (IPO) comprises a public issue of 118 million new shares, representing 25.21% of the company's enlarged issued share capital upon listing.

Of that amount, 85.4 million shares will be placed out to selected investors, and 23.6 million shares made available for application by the Malaysian public.

Another nine million shares will be available for eligible directors, employees and persons who contributed to the group’s success, Sunview said.

It is also involved in solar power generation, being registered under the Sustainable Energy Development Authority Malaysia (SEDA) as a solar service provider and solar PV investor.

Sunview is a certified contractor of Tenaga Nasional Bhd (TNB), an electrical contractor and energy service company under the Energy Commission (EC) and a G7 contractor of the Construction Industry Development Board (CIDB).

“With demand for renewable energy on the rise in recent years, we believe that our listing exercise comes at an opportune time,” said Sunview chief executive officer Ong Hang Ping in a statement.

“Furthermore, the Ministry of Energy and Natural Resources had committed to increase the use of renewable resources for power generation to 31% of the total installed capacity in Malaysia by 2025 and 40% by 2035 under Malaysia’s Transition Plan. This bodes well with our growth plans going forward,” Ong said.

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