EIP Targets RM62.2 Million IPO to Capitalise on Data Centre Growth and Energy Solutions Demand
PETALING JAYA: El Power Berhad (EIP) is set to raise RM62.2 million through its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad, positioning itself to capture growth opportunities in the expanding data centre and energy solutions sectors.
At an IPO price of 48 sen per share, the company is projected to achieve a market capitalisation of approximately RM336 million upon listing, supported by an enlarged share base of 700 million shares.
Executive Director and CEO Albert Chang Wan Siong described the prospectus launch as a key milestone, marking the company’s transition into a publicly listed entity and enhancing its profile among investors and stakeholders.
He said the IPO proceeds will be strategically deployed to strengthen operational capabilities and support expansion initiatives, particularly in high-growth segments such as data centres.
“Our strategy is to scale our operations while expanding our energy solutions portfolio, especially in building energy efficiency, which is gaining increasing traction,” he noted.
A significant portion of the funds, amounting to RM24.9 million (40.1 percent), will be allocated for working capital, while RM18.3 million (29.4 percent) will be used to develop a new headquarters and warehouse in Selangor.
Additionally, RM10 million (16.1 percent) has been earmarked for capital expenditure related to energy efficiency systems, with RM2.3 million (3.7 percent) and RM1.4 million (2.2 percent) allocated for the establishment of a new branch in Johor and an office in Thailand, respectively.
The remaining RM5.3 million (8.5 percent) will cover listing expenses.
The IPO exercise comprises the issuance of 129.5 million new shares, representing 18.5 percent of the enlarged share capital, alongside an offer for sale of 70 million existing shares, equivalent to 10 percent.
Since 2022, EIP has completed 146 projects with a total value of RM188.2 million, spanning data centre developments as well as industrial and commercial sectors.
As at March 24, 2026, the company reported an unbilled order book of RM99.9 million, largely driven by data centre-related projects, underscoring sustained demand for critical energy infrastructure solutions.
-wilayah.com.my
