• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Founder Group Limited Announces Closing of Initial Public Offering

    10/24/24 4:00:00 PM ET
    $FGL
    Engineering & Construction
    Consumer Discretionary
    Get the next $FGL alert in real time by email

    SELANGOR, Malaysia, Oct. 24, 2024 (GLOBE NEWSWIRE) --  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 closing of its previously announced 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 to the Company, before deducting underwriting discounts and offering expenses. The shares began trading on the Nasdaq Capital Market on October 23, 2024, under the ticker symbol "FGL."

    US Tiger Securities, Inc. ("US Tiger") acted as sole underwriter for the Offering. Hunter Taubman Fischer & Li LLC acted as U.S. legal counsel to the Company, and Sichenzia Ross Ference Carmel LLP acted as U.S. legal counsel to US Tiger.

    The Offering was 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 was 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 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.

    About Founder Group Limited

    Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The Company's primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The Company's mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon-neutrality.

    For more information on the Company, please log on to https://www.founderenergy.com.my/.

    Safe Harbor Statement

    This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under "Risk Factors" in the registration statement on Form F-1 related to the Offering, may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.

    Contact Information:

    Founder Group Limited:

    Eric Lee

    Chief Executive Officer

    Telephone +03-3358 5638

    Email: [email protected]

    Underwriter:

    US Tiger Securities, Inc.

    437 Madison Avenue, FL 27

    New York, NY 10022

    Email: [email protected]

    Investor Relations:

    Skyline Corporate Communications Group, LLC

    Scott Powell, President

    1177 Avenue of the Americas, 5th Floor

    New York, New York 10036

    Office: (646) 893-5835

    Email: [email protected]



    Primary Logo

    Get the next $FGL alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Q&A

    New
    • What were the financial details of Founder Group Limited's IPO?

      Founder Group Limited closed its initial public offering of 1,218,750 ordinary shares, raising total gross proceeds of $4.875 million at a public offering price of $4.00 per share.

    • When did Founder Group Limited's shares start trading and under what symbol?

      The shares of Founder Group Limited began trading under the ticker symbol 'FGL' on the Nasdaq Capital Market on October 23, 2024.

    • Who were the key parties involved in the underwriting of the IPO?

      US Tiger Securities, Inc. acted as the sole underwriter for the offering and Hunter Taubman Fischer & Li LLC provided U.S. legal counsel to the company.

    • What is the primary business focus of Founder Group Limited?

      Founder Group Limited focuses on providing end-to-end EPCC solutions for solar PV facilities, especially large-scale solar projects and commercial/industrial solar projects in Malaysia.

    • How was the IPO offering conducted in terms of regulatory compliance?

      The offering was conducted in compliance with SEC regulations and was made only by means of a prospectus as part of the company's registration statement on Form F-1.

    Recent Analyst Ratings for
    $FGL

    DatePrice TargetRatingAnalyst
    More analyst ratings

    $FGL
    SEC Filings

    See more
    • SEC Form 6-K filed by Founder Group Limited

      6-K - Founder Group Ltd (0001989930) (Filer)

      6/24/25 4:01:03 PM ET
      $FGL
      Engineering & Construction
      Consumer Discretionary
    • SEC Form 424B1 filed by Founder Group Limited

      424B1 - Founder Group Ltd (0001989930) (Filer)

      5/27/25 3:21:37 PM ET
      $FGL
      Engineering & Construction
      Consumer Discretionary
    • SEC Form EFFECT filed by Founder Group Limited

      EFFECT - Founder Group Ltd (0001989930) (Filer)

      5/27/25 12:15:18 AM ET
      $FGL
      Engineering & Construction
      Consumer Discretionary

    $FGL
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Founder Group Management Comments on Market Conditions in the U.S. for Solar Power Companies' Stocks

      KUALA LUMPUR, Malaysia, June 20, 2025 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ:FGL) ("Founder Group" or the "Company"), a leading engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic systems in Malaysia, assures investors that the Company will not be impacted by a U.S. Senate panel's proposed wind down of solar power tax credits by 2028. "Founder Group operates primarily in Malaysia and doesn't have operations in the U.S. Therefore, the Company should not be affected by the sentiments currently causing selloffs of U.S. solar power stocks," said Lee Seng Chi, Chief Executive Officer of Founder Group Limited. "Although we are l

      6/20/25 8:30:00 AM ET
      $FGL
      Engineering & Construction
      Consumer Discretionary
    • Founder Group Signs Memorandum of Understanding with GCL Systems Integration Technology Co., Ltd. to Cooperate on Renewable Energy Projects Valued at up to USD $220 Million

      KUALA LUMPUR, Malaysia, June 17, 2025 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ:FGL) ("Founder Group" or the "Company"), a leading engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic systems in Malaysia, is pleased to announce the signing of a memorandum of understanding (MOU) with GCL Systems Integration Technology Co. Ltd. (GCL). The companies have agreed to cooperate and work together to explore, identify, assess and undertake projects focused on the Renewable Energy industry across Malaysia and other ASEAN countries with an estimated value of up to USD $220 million. GCL Systems Integration Technology Co., Ltd. is a publicl

      6/17/25 8:30:00 AM ET
      $FGL
      Engineering & Construction
      Consumer Discretionary
    • Founder Group Secures Additional Contracts with Solar Installation Companies in Malaysia of US$ 1.5 Million

      KUALA LUMPUR, Malaysia, June 11, 2025 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ:FGL) ("Founder Group" or the "Company"), a leading engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic (PV) systems in Malaysia, is pleased to announce that it has secured additional contracts with prominent solar installation companies in Malaysia. The Company secured a contract totaling RM3.4 million (approximately US$806,193) engineering, procurement, construction, and commissioning contract for the development of a 29.99 megawatt (MWac) large-scale solar (LSS) photovoltaic plant in Bukit Badong, Selangor. The Founder Group will be responsib

      6/11/25 8:00:00 AM ET
      $FGL
      Engineering & Construction
      Consumer Discretionary

    $FGL
    Leadership Updates

    Live Leadership Updates

    See more
    • VCI Global Completes Founder Group Limited's IPO on Nasdaq, Records US$5.2 Million in Revenue

      KUALA LUMPUR, Malaysia, Oct. 24, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ:VCIG) (Frankfurt: H0T) ("VCI Global" or the "Company") is thrilled to announce the successful IPO of its client, Founder Group Limited's (NASDAQ:FGL) ("FGL") on Nasdaq on October 23, 2024. FGL is a leading Malaysian solar engineering, procurement, construction and commissioning (EPCC) company that was spun off from Reservoir Link Energy Berhad, a Bursa Malaysia-listed company. With expertise in capital market consultancy, VCI Global facilitated FGL's entire IPO journey, culminating in its trading debut on Wednesday, which resulted in a market capitalization exceeding US$65 million and raised US$4.875 milli

      10/24/24 7:33:00 AM ET
      $FGL
      $VCIG
      Engineering & Construction
      Consumer Discretionary
      Diversified Commercial Services