Founder Group Limited
General Information | |
Business: | Our mission is to provide customers with innovative solar installation services, promote eco-friendly resources, and achieve carbon neutrality. (Incorporated in the British Virgin Islands) We are a pure-play end-to-end EPCC solutions provider for solar PV facilities in Malaysia. Our primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. (Note: In the reference to ‘EPCC solutions provider,’ EPCC stands for ‘engineering, procurement, construction and commissioning,’ according to the prospectus.) Note: Net income and revenue are in U.S. dollars (converted from the Malaysian ringgit) for the fiscal year that ended Dec. 31, 2023.(Note: Founder Group Limited priced its micro-cap IPO at $4.00 – the low end of its $4.00-to-$5.00 price range – and priced 1.22 million shares (1,218,750 shares) – down from 1.63 million shares (1.625 million shares) in the prospectus – to raise $4.88 million ($4.875 million) on Tuesday night, Oct. 22, 2024.)(Background: Founder Group Limited cut its IPO’s size to 1.63 million shares (1,625,000 shares) – down from 2.5 million shares originally – and kept the price range at $4.00 to $5.00 – to raise $7.31 million, according to an F-1/A filing dated Sept. 20, 2024. Note: Founder Group Limited unveiled its IPO plans in an F-1 filing dated Aug. 1, 2024, disclosing the terms for its IPO – 2.5 million shares at a price range of $4.00 to $5.00 – to raise $11.25 million. Founder Group Limited submitted a confidential IPO filing to the SEC on Feb. 21 2024.) |
Industry: | CONSTRUCTION SPECIAL TRADE CONTRACTORS |
Employees: | 45 |
Founded: | 2021 |
Contact Information | |
Address | No.17, Jalan Astana 1B, Bandar Bukit Raja, 41050 Klang, Selangor Darul Ehsan, Malaysia |
Phone Number | (212) 947-7200 |
Web Address | https://www.founderenergy.com.my/ |
View Prospectus: | Founder Group Limited |
Financial Information | |
Market Cap | $67.68mil |
Revenues | $32.25 mil (last 12 months) |
Net Income | $1.56 mil (last 12 months) |
IPO Profile | |
Symbol | FGL |
Exchange | NASDAQ |
Shares (millions): | 1.2 |
Price range | $4.00 - $4.00 |
Est. $ Volume | $4.9 mil |
Manager / Joint Managers | US Tiger Securities |
CO-Managers | |
Expected To Trade: | 10/23/2024 |
Status: | Priced |
Quiet Period Expiration Date: | Available only to Subscribers |
Lock-Up Period Expiration Date: | Available only to Subscribers |
SCOOP Rating | Available only to Subscribers |
Rating Change | Available only to Subscribers |