Solar District Cooling Group Berhad (SDCG) has experienced a noteworthy entrance on the ACE Market of Bursa Malaysia, with shares beginning at RM0.500, marking an impressive 31.6% increase from the initial public offering (IPO) price of RM0.380. This substantial surge highlights significant market confidence in the company’s offerings and future prospects. Known for its expertise in Building Management Systems (BMS) and solar thermal systems, SDCG operates extensively across healthcare, hospitality, and industrial sectors, providing innovative energy efficiency solutions.
Key Offerings and Services
A pivotal aspect of SDCG’s operations is its comprehensive support for public hospitals through energy performance services. These services include the installation of hybrid solar thermal hot water systems and the retrofitting of lighting systems to energy-saving LED fixtures. The successful IPO has raised approximately RM45.1 million, which the company plans to allocate toward several key initiatives. These include expanding the company’s headquarters, securing bonds for future projects, purchasing materials for BMS and solar systems, covering working capital, funding capital expenditures, and paying for listing expenses.
Focus on Sustainability and Growth
Ir. Dr. Khairul Azmy Bin Kamaluddin, the Independent Non-Executive Chairman of SDCG, emphasizes that this listing on the ACE Market signifies a significant milestone for the company. Moving forward, the primary focus will be on advancing BMS and solar thermal systems, with an eye toward enhancing energy efficiency and promoting sustainability. The company is poised to accelerate its expansion, particularly in solar photovoltaic offerings, aligning with its commitment to environmental stewardship and sustainable growth.
A Symbol of Market Readiness
SDCG’s entry into the ACE Market is not just a financial milestone; it also symbolizes the company’s readiness to broaden its project portfolio and seize new opportunities to create sustainable value for shareholders and stakeholders alike. Mercury Securities Sdn. Bhd., serving as the principal adviser, sponsor, underwriter, and placement agent for the IPO, played a crucial role in the successful listing. The achievement is being hailed as a testament to the dedication and hard work of the SDCG team, positioning the company for continued growth and development in the rapidly evolving energy solutions sector.
