Prudential Plc takes a substantial 5.25% stake in Solarvest
The foreign institutional investor’s move into Solarvest comes as the clean energy group continues to post growth in profit and revenue, driven by stronger contributions from utility-scale solar projects. Prudential Plc’s new stake makes it a substantial shareholder in the Bursa Malaysia-listed solar photovoltaic specialist.
Highlights
- Prudential Plc acquired 51.41 million shares in Solarvest Holdings Bhd on 21 Oct through Eastspring funds, taking a 5.25% stake worth around RM204.06 million.
- Solarvest posted net profit of RM19.02 million for the first quarter ended 30 June 2026, up 19.8%, while revenue rose 13.21% to RM155.94 million.
- Solarvest shares rose five sen, or 1.27%, to RM4 on Friday, valuing the company at a market capitalisation of around RM3.92 billion.
This article was translated from the original. Read the original version by our correspondent here.
Details of Prudential’s share purchase
The Edge Malaysia reported that Prudential Plc acquired 51.41 million shares in Solarvest Holdings Bhd on 21 Oct through funds managed by Eastspring Al-Wara’ Investments Bhd and Eastspring Investments Bhd. Eastspring Al-Wara’ bought 24.36 million shares, while Eastspring Investments acquired 27.05 million shares.The transaction price was not disclosed. Based on Solarvest’s closing price of RM3.97 on 21 Oct, the stake is estimated to be worth around RM204.06 million.
Besides Prudential, other substantial shareholders in Solarvest include co-founder and managing director Lim Chin Siu and executive director Tan Chyi Boon. The two collectively hold a 20.15% interest through Atlantic Blue Holdings Sdn Bhd, while Lim holds a 6.19% direct stake and Tan holds 6.78% directly, according to the group’s annual report.
Operational growth supports share sentiment
For the first quarter ended 30 June 2026, Solarvest posted net profit of RM19.02 million, up 19.8% from RM15.88 million a year earlier, driven mainly by higher contributions from associates. Quarterly revenue rose 13.21% to RM155.94 million from RM137.74 million, supported by stronger contributions from utility-scale solar projects.The group said growth was also supported by the continued implementation of the Corporate Green Power Programme and progress under the Large Scale Solar 5 programme. Solarvest shares rose five sen, or 1.27%, to RM4 on Friday, taking its market capitalisation to around RM3.92 billion.
In our earlier report on the weakness in the FBM KLCI, we explained how concerns about U.S. inflation and the prospect of higher interest rates weighed on market sentiment, alongside continued net foreign selling. We also discussed significant pressure on technology/AI and semiconductor stocks, as well as investors’ focus on upcoming U.S. economic data for clues about the market’s direction.
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