KUALA LUMPUR: Solar District Cooling Group Bhd opened at 50 sen, a 31.6 per cent premium from its initial public offering (IPO) price of 38 sen on its first day of listing on the Ace Market of Bursa Malaysia.
As at 9.04am, the company's share price rose further by 44.74 per cent or 17 sen to 55 sen.
It saw 48.62 shares traded.
The company's IPO involved a public issue of 118.67 million new shares, with no separate tranche for the sale of existing shares.
The company's operations include building management systems, solar thermal solutions, and energy-saving services.
It also specialises in system and equipment maintenance projects, including gas-fired chillers and chilled water systems.
Managing director Edison Kong said the company is optimistic on the prospects of bms and energy efficiency industry in the country.
"Our energy cost is relatively low versus global standards and it is likely to rise in the future. "Increasing the need for energy efficient solutions is always there," he said in a virtual press briefing.
Kong said the company's current orderbook stood above RM30 million with the addition of its latest contract wins from Mitrajaya Construction Sdn Bhd valued at RM8.13 million.
The contract involved sub-contract works for a block of 11-storey hospital for Avisena Healthcare Sdn Bhd in Shah Alam.
"We are actively tendering for projects across various industries including commercial buildings, healthcare facilities, industrial properties and also data centres."
"These buildings have significant energy needs, with our expertise we can help improve energy efficiency and reduce operating costs," added Kong. -end-