Malaysian CECEP Solar Energy service provider Founder Group (FGL.US) plans to price its IPO at $4-5 per share, aiming to raise $11 million.

Malaysia CECEP Solar Energy project engineering and construction service provider Founder Group (FGL.US) announced the specific terms of its initial public offering (IPO) this Thursday. The company plans to issue 2.5 million shares of stock at a price of $4-5 per share, with an expected fundraising size of $11 million. Based on the mid-point of this price range, Founder Group's market value will be approximately $82 million. As a professional service provider in the Malaysia CECEP Solar Energy field, Founder Group specializes in offering one-stop services from engineering design, procurement, construction to commissioning. The company not only undertakes large CECEP Solar Energy projects, but also serves diverse needs in commercial and industrial sectors, and provides comprehensive operation and maintenance services to ensure the long-term stable operation of projects. Headquartered in Klang, Malaysia, Founder Group was established in 2021 and plans to be listed on NASDAQ with the stock code FGL. Founder Group secretly submitted its IPO application on February 21, 2024. UP Fintech Holding Ltd. Sponsored ADR Class A is the sole bookrunner for this transaction.