SELANGOR, Malyasia, Oct. 22, 2024 – Founder Group Limited Announces Pricing of IPO

FGL Pricing of IPO

SELANGOR, Malaysia, Oct. 22, 2024 (GLOBE NEWSWIRE) — Founder Group Limited (“FGL” or the “Company”), a pure-play, end-to-end engineering, procurement, construction and commissioning (EPCC) solutions provider for solar PV facilities in Malaysia, today announced the pricing of its initial public offering (the “Offering”) of an aggregate 1,218,750 ordinary shares at a public offering price of $4.00 per share for total gross proceeds of $4.875 million, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option (the “Over-Allotment Option”) to purchase up to an additional 182,813 ordinary shares at the initial public offering price, less underwriting discounts.

Founder Group Limited (FGL) has successfully priced its initial public offering, raising a total of $4.875 million through the sale of 1,218,750 ordinary shares at $4.00 per share. The company, known for its expertise in providing EPCC solutions for solar PV facilities, has also granted underwriters the option to purchase additional shares, potentially increasing the total proceeds.

This announcement marks a significant milestone for FGL as it looks to expand its presence in the solar energy sector in Malaysia. With the growing demand for renewable energy solutions, FGL is well-positioned to capitalize on the opportunities in the market and drive further innovation in the industry.

Impact on Individuals

As an individual investor, the pricing of FGL’s IPO presents an opportunity to invest in a company that is at the forefront of the sustainable energy movement. By participating in the offering, investors can support FGL’s mission to provide efficient and cost-effective solutions for solar energy projects, while potentially benefiting from the company’s growth in the future.

Impact on the World

With the successful pricing of its IPO, Founder Group Limited is poised to make a positive impact on the world by expanding its reach and capabilities in the solar energy sector. By providing end-to-end EPCC solutions for solar PV facilities, FGL is contributing to the global transition towards renewable energy sources and helping to reduce carbon emissions, ultimately leading to a more sustainable future for the planet.

Conclusion

Founder Group Limited’s pricing of its IPO is a testament to the company’s commitment to driving innovation and sustainability in the solar energy industry. As FGL continues to expand its operations and invest in new technologies, the company is set to play a key role in advancing the adoption of renewable energy solutions on a global scale.