VERDANT
Key figures
- IPO price
- RM 0.31
- Day 1 open
- RM 0.37
- Day 1 close
- RM 0.37
- Current price
- RM 0.26
- Day 1 open %
- +19.4%
- Day 1 close %
- +19.4%
- Since listing
- -16.1%
- Oversubscription
- 39.60x
- Market cap
- RM 253.5 M
- Offer size
- 215.59 M
- Enlarged shares
- 817.62 M
- Float
- 26.37%
Four recorded prices. Spacing between points is not a time scale; the dashed line is the IPO price.
Offer structure
| Tranche | Shares | % of offer |
|---|---|---|
| Malaysian public (balloting) | 40.88 M | 19.0% |
| Private placement | 149.705 M | 69.4% |
| New shares issued | 142 M | 65.9% |
| Offer for sale | 73.59 M | 34.1% |
Business profile (from the prospectus)
Prospectus excerpt shown in the document's original language.
Our Company is principally an investment holding company. Through our subsidiar ies, we are principally involved in the provision of EPCC services for solar PV systems, O&M services for solar PV systems and trading of solar products.
Source: company prospectus, PDF page 100.
Use of proceeds (from the prospectus)
| Item | RM'000 | % |
|---|---|---|
| Establishment of branch offices in Peninsular Malaysia | 14,000 | 31.8% |
| Expansion through strategic investments, merger and acquisition opportunities | 10,000 | 22.7% |
| Enhancement of digital infrastructure | 3,800 | 8.6% |
| Working capital | 11,720 | 26.6% |
| Estimated listing expenses | 4,500 | 10.2% |
Source: company prospectus, PDF page 45.
Financials (from the prospectus)
| FY | Revenue (RM'000) | PATAMI (RM'000) | Margin | EPS (sen) |
|---|---|---|---|---|
| FY2022 | 14,701 | 827 | 5.63% | 0.10 |
| FY2023 | 26,644 | 1,204 | 4.52% | 0.15 |
| FY2024 | 56,276 | 6,649 | 11.81% | 0.81 |
| FY2025 | 111,426 | 17,204 | 15.44% | 2.10 |
Latest-FY revenue growth: +98.00%. PE at the IPO price: 14.76. Source: company prospectus (verified excerpts), PDF page 78.
Board context: ACE
Across 217 ACE IPOs in the database: median day-1 close +13.5% (P25 +0.0%, P75 +45.7%), median since-listing -8.0%. 71.0% closed day 1 above their IPO price.
This IPO's day-1 close of +19.4% sits at P56 of its board · This IPO's since-listing of -16.1% sits at P37 of its board
Board peers: ACE
| Symbol | Listed | IPO price | Day 1 close | Since listing | Market cap |
|---|---|---|---|---|---|
| ENPRO | 18 Jul 2025 | RM 0.24 | +10.4% | -8.3% | RM 252.0 M |
| NORTHERN [NS] | 06 Feb 2025 | RM 0.63 | +25.4% | -4.8% | RM 249.2 M |
| DCHCARE | 17 Jul 2023 | RM 0.25 | +80.0% | -52.0% | RM 249.1 M |
| PMIBHD | 26 Jun 2025 | RM 0.27 | -14.8% | -22.2% | RM 247.3 M |
| OGX | 12 Mar 2026 | RM 0.35 | -1.4% | +30.0% | RM 262.5 M |
| METRO | 15 Nov 2024 | RM 0.25 | +2.0% | -10.0% | RM 244.7 M |
| CARLORINO | 18 Dec 2024 | RM 0.27 | -14.8% | -48.1% | RM 263.9 M |
| DSS | 06 Jan 2023 | RM 0.55 | +12.7% | -54.5% | RM 264.0 M |
Audit
No audit published for this IPO.