Founder Group, a Malaysian provider of engineering and construction services for solar projects, filed on Thursday with the SEC to raise up to $11 million in an initial public offering.
The Klang, Malaysia-based company plans to raise $11 million by offering 2.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Founder Group would command a market cap of $82 million.
The company described itself as a pure-play end-to-end provider of engineering, procurement, construction, and commissioning services for solar projects in Malaysia. The company works on large-scale projects and other other commercial and industrial projects. The company also provides operation and maintenance services to its clients.
The Klang, Malaysia-based company was founded in 2021 and plans to list on the Nasdaq under the symbol FGL. Founder Group filed confidentially on February 21, 2024. Tiger Brokers is the sole bookrunner on the deal.
