ES Sunlogy Berhad IPO's Analysis

ES Sunlogy Berhad

ES Sunlogy Berhad focuses on Mechanical and Electrical (M&E) engineering services. The company designs and implements electricity supply distribution systems and mechanical building services. Additionally, ES Sunlogy is involved in generating and selling renewable energy through solar facilities. Its product offerings include trading electrical components such as solar photovoltaic panels and related equipment. Serving a diverse market, the company caters to industrial, commercial, and residential projects, as well as renewable energy clients. ES Sunlogy was incorporated in November 2023 and is headquartered in Bukit Mertajam, Penang, Malaysia.

IPO Details
Market: ACE
Principal Adviser: M&A Securities Sdn Bhd
Issuing House: Tricor Investor & Issuing House (TIIH)
Shariah Status: SC (Yes)
Listing Price: 0.3
PE Ratio: 15.5
    PE (FYE): 15.5
    PE (FPE Annualised): -
    PE (Hybrid): -
MITI allocation?: Yes
Closing Date: 05-Feb-2025
Balloting Date: 10-Feb-2025
Listing Date: 20-Feb-2025
Oversubscription rate: 60.13x
Average Analysts FV :
Mplus (0.50), TA (0.42), RHB (0.41)
iSaham IPO Score :
Market Cap: 210.00 M
Number of Shares: 700.00 M
IPO Allocations No. of Shares %
Malaysian Public 35.00 M 5.0%
Bumiputera shareholders approved by MITI 87.50 M 12.5%
Eligible Directors and employees 17.5 M 2.5%
Private placement to selected investors and others 70.0 M 10.0%
Total Allocations 210.00 M 30.0%

Offer for Sales of 70.00 M existing shares representing 10.0% enlarged shares.

Public Issue of 140.00 M new shares representing 20.0% enlarged shares.

Median Sectors PE: N/A
Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Development and construction of SelarongLSSPV Plant 14,100 33.6
Working capital General working capital 9,180 21.9
Others Purchase of ERP system 720 1.7
Listing expenses Estimated listing expenses 4,000 9.5
Debt Repayment of borrowings 14,000 33.3
Total 42,000 100
Utilisation of Proceeds
Business Segments
Major Customers
Profit After Tax (PAT) by Financial Year Ended
SWOT Analysis
No Available Pro Insight yet
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