Founder Group Limited Announces Closing of Initial Public Offering

 

SELANGOR, Malaysia, Radarseluma.Disway.Id --  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 closing of its previously announced 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 to the Company, before deducting underwriting discounts and offering expenses. The shares began trading on the Nasdaq Capital Market on October 23, 2024, under the ticker symbol “FGL.”

 

US Tiger Securities, Inc. (“US Tiger”) acted as sole underwriter for the Offering. Hunter Taubman Fischer & Li LLC acted as U.S. legal counsel to the Company, and Sichenzia Ross Ference Carmel LLP acted as U.S. legal counsel to US Tiger.

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The Offering was conducted pursuant to the Company’s registration statement on Form F-1 related to the Offering, as amended (File No. 333-281167), which was filed with the United States Securities and Exchange Commission (the “SEC”) and was declared effective on September 30, 2024. The offering of the securities was made only by means of a prospectus forming a part of the registration statement. Electronic copies of the final prospectus relating to the Offering may be obtained by visiting the SEC’s website located at http://www.sec.gov or by contacting US Tiger Securities, Inc. at 437 Madison Avenue, 27th Floor, New York, New York 10022, or by telephone at +1 646-978-5188.

 

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy the Company’s securities, nor shall there be any offer, solicitation, or sale of such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

About Founder Group Limited

 

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Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The Company’s primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The Company’s mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon-neutrality.

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