Selangor (Malyasia) : 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 pricing of its 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, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option (the “Over-Allotment Option”) to purchase up to an additional 182,813 ordinary shares at the initial public offering price, less underwriting discounts.
The ordinary shares are scheduled to begin trading on the Nasdaq Capital Market on October 23, 2024, under the ticker symbol “FGL”. The Offering is expected to close on or about October 24, 2024, subject to customary closing conditions.
US Tiger Securities, Inc. (“US Tiger”) is acting as sole underwriter for the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S. legal counsel to the Company, and Sichenzia Ross Ference Carmel LLP is acting as U.S. legal counsel to US Tiger.
The Offering is being 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 is being 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, when available, 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.
