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:
Lock-Up Period Expiration Date:
SCOOP Rating
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