Ray Go Solar makes debut on LEAP Market at 16c/share

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KUALA LUMPUR: Ray Go Solar Holdings Bhd made its debut on the LEAP market of Bursa Malaysia at 16 sen a share, representing a 4 sen premium over its difficulty value of 12 sen.

About 10,000 shares had been achieved within the opening commerce.

The photo voltaic photovoltaic options supplier’s itemizing on the LEAP Market entailed the issuance of 52.3 million new extraordinary shares by means of personal placement, representing 20.5% of its enlarged share capital of 255 million shares.

It will increase RM6.27mil in proceeds by way of the itemizing, of which RM2mil will likely be allotted for enlargement right into a photo voltaic leasing programme, RM1mil for operations enlargement to Penang and Johor, RM2.43 for working capital and the remaining RM840,000 for itemizing bills.

According to Ray Go Solar CEO Datuk Ray Tan, the corporate will likely be introducing its photo voltaic leasing options in 2022 to decrease the entry value to its potential purchasers and increase the penetration fee of its photo voltaic PV options.

“Furthermore, because the renewable power business is anticipated to develop multifold on the again of sturdy demand and favorable authorities insurance policies, we will likely be increasing our operational footprint nationwide to seize the rising alternatives within the Northern and Southern areas of Peninsular Malaysia,” he added in a press release.



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