Kenanga IB, Petronas to collaborate in vendor IPO project

  • Corporate News
  • Tuesday, 18 Feb 2020

KUALA LUMPUR: Kenanga Investment Bank Bhd has entered into a memorandum of understanding (MoU) with Petroliam Nasional Bhd in a project to help local oil and gas contractors list their shares on Bursa Malaysia.

The MoU is effective for three years, with an option of a two-year extension, Kenanga IB said in a filing with Bursa Malaysia today.

"As the programme is meant for the vendors who have indicated interest to undertake an initial public offer (IPO) exercise, the collaboration between Kenanga IB and Petronas serves to ease and expedite IPO candidates’ journey for an eventual listing on the equity market of Bursa Malaysia Securities Bhd," it said.

Under the MoU, Petronas is to provide a platform for Kenanga IB to connect with its vendors and to provide reasonable support throughout the IPO preparation process.

Kenanga IB will conduct initial assessment on the vendors and evaluate their potential as IPO candidates.

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