KUALA LUMPUR (March 31): Oil and gas services provider Elsa Bhd has signed an underwriting agreement with Malacca Securities Sdn Bhd for its initial public offering (IPO) and proposed listing on the ACE Market of Bursa Malaysia. Of which, a total of 26.92 million shares will be allocated for the Malaysian public, 10.77 million shares for eligible persons and the remaining 80.71 million shares are for selected investors via private placement. Upon the IPO completion, Elsa will have an enlarged share capital of 538.4 million shares. Elsa executive chairman Amiruddin Mohd Zain said that the agreement marks an important step for the company as it progresses along its proposed listing on the ACE Market. Its key segments are oilfield service solutions, digital solutions, talent solutions and robotics and engineering solutions.

Source: The Edge Markets March 31, 2026 11:43 UTC