Shares of Pimpinan Ehsan Bhd (PEB) rose 27 sen or 16.46% during this morning's trading session after the company entered into an agreement to own a 100% equity interest in reNIKOLA Holdings Sdn Bhd.
At 9.35am, PEB shares rose 10 sen or 6.1% to RM1.74, making it one of the most profitable counters on Bursa Malaysia.
PEB acquired reNIKOLA by issuing 348.6 million new shares at RM1.07 each worth RM373 million.
According to the reNIKOLA website, PEB has two solar plants in Pahang and Perlis with a combined capacity of 43MWp.
PEB also owns a 45MWp solar plant in Pekan, Pahang in the second quarter of this year and is developing a 330MWp plant in Kedah which is expected to be completed in the first quarter of 2022.
