Prudential takes 5.25% stake in Solarvest
The UK-based insurer acquired 51.41 million shares through funds managed by two Eastspring firms.
Prudential Plc became a substantial shareholder of Solarvest Holdings Bhd after acquiring a 5.25% interest on Oct 21. The UK-based insurer bought 51.41 million shares in the solar photovoltaic and clean energy company through Eastspring-managed funds.
Funds managed by Eastspring Al-Wara’ Investments Bhd purchased 24.36 million shares, while those managed by Eastspring Investments Bhd bought 27.05 million shares. The purchase price was not disclosed. Using Solarvest’s Oct 21 closing price of RM3.97, the shares had an approximate value of RM204.06 million.
Solarvest’s shares gained five sen, or 1.27%, to reach RM4 on Oct 23. Its market capitalisation stood at RM3.92 billion.
For 1QFY2027, which ended June 30, 2026, Solarvest recorded RM19.02 million in net profit, up 19.8% from RM15.88 million a year earlier. Higher contributions from associates were the main driver. Revenue reached RM155.94 million, a 13.21% increase from RM137.74 million, supported by utility-scale solar projects.
The group also attributed growth to ongoing work under the Corporate Green Power Programme (CGPP) and advances in the Large Scale Solar 5 (LSS5) programme.
Other substantial shareholders include co-founders Lim Chin Siu, the managing director, and Tan Chyi Boon, the executive director. According to Solarvest’s annual report, their private vehicle, Atlantic Blue Holdings Sdn Bhd, holds 20.15%. Lim separately owns a direct 6.19% interest, while Tan’s direct holding is 6.78%.
