Ekuinas O&G arm sees heavy selling as lockup period ends

PETALING JAYA: On a day when most stocks were on an uptrend on the back of the market gaining 28 points, Icon Offshore Bhd, the oil and gas (O&G) service provider of Ekuiti Nasional Bhd (Ekuinas), saw some heavy selling.

The selling came amidst the end of a six-month lockup period imposed on the promoters, namely, Ekuinas and Icon’s chief executive officer Jamal Yusof from the date of Icon’s listing on June 25.