KUALA LUMPUR, Aug 14, 2024 - (ACN Newswire) - Solar District Cooling Group Berhad ("SDCG") is pleased to announce that it has entered into an underwriting agreement with Mercury Securities Sdn Bhd (“Mercury Securities”) today for its upcoming initial public offering ("IPO") on the ACE Market of Bursa Malaysia Securities Berhad.

1.Mr Chris Lai Ther Wei, Director, Head of Capital Markets, Mercury Securities 2.Ms Tan Tai Kim, Director, Corporate Finance, Mercury Securities 3.Mr Chew Sing Guan, Managing Director of Mercury Securities 4.Mr Edison Kong, Managing Director, Solar District Cooling Group 5.Ms Eileen Liuk, Executive Director, Solar District Cooling Group 6. Ms Sheryn Chow Suet Yim, Director, Corporate Finance, Mercury Securities [L-R]

SDCG and its subsidiaries (“Group”) are principally involved in the provision and maintenance of building management systems (BMS), solar thermal solutions and energy saving services. The Group has a proven track record of enhancing energy efficiency across various sectors and strives to establish benchmarks in energy management and cost efficiency.

The IPO involves the public issue of 118,670,000 new ordinary shares ("Issue Shares"), representing 28.00% of SDCG’s enlarged issued share capital of 423,822,460 ordinary shares upon its listing.

The Issue Shares will be allocated in the following manner:

Malaysian Public: 21,192,000 Issue Shares representing 5.00% of the enlarged issued share capital for application by the Malaysian public, with 50.00% set aside for Bumiputera investors.

Eligible Persons: 21,192,000 Issue Shares representing 5.00% of the enlarged issued share capital for application by eligible directors, employees, and persons who have contributed to the Group’s success.

Selected Investors: 76,286,000 Issue Shares representing 18.00% of the enlarged issued share capital made available by way of private placement to selected investors.

Mercury Securities will underwrite all the 42,384,000 Issue Shares made available for application by the Malaysian public and eligible persons.

Mr. Edison Kong, Managing Director of SDCG, expressed his enthusiasm for the IPO, stating, “Our listing will enhance our visibility and reputation in the market and enable our directors, employees, business partners, and public investors to participate in the growth and continued expansion of our business, increasing shareholder value. We would like to express our sincere gratitude to Mercury Securities for their support and confidence in our Group."

He added, "This corporate milestone will help scale our Group to new heights by tapping new opportunities and responding to the evolving needs of our customers and market trends. We remain focused on providing innovative solutions that create value for our customers, striving to exceed their expectations.

Mr. Chew Sing Guan, Managing Director of Mercury Securities said, "We are delighted to be the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent for SDCG and to play a part in their new corporate journey as a listed company on the ACE Market of Bursa Malaysia Securities Berhad. The listing will enable SDCG to tap into the capital market for its growth and expansion plans in the future."

1. Mr Chew Sing Guan, Managing Director of Mercury Securities 2. Mr Edison Kong, Managing Director, Solar District Cooling Group[L-R]

ABOUT SOLAR DISTRICT COOLING GROUP BERHAD

Solar District Cooling Group Berhad (SDCG) and its subsidiaries (the “Group”) is an established services provider of energy-efficient building management and solar thermal systems in Malaysia. The Group specialises in the design, installation, and maintenance of BMS and solar thermal solutions, serving a diverse range of sectors including commercial, institutional, and industrial properties. With a commitment to sustainability and innovation, SDCG has earned a reputation for excellence in the building management system and solar thermal industries.

For more information, visit www.sdc.my

Issued By: Swan Consultancy Sdn Bhd on behalf of Solar District Cooling Group.

For more information, please contact:
Jazmin Wan
Tel: +60 17-289 4110
Email: j.wan@swanconsultancy.biz

William Yeo
Tel: +60 16-213 2103
Email: w.yeo@swanconsultancy.biz

Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.