PETALING JAYA: Enproserve Group Bhd
, a mechanical and civil engineering service provider, has received approval from Bursa Malaysia for its listing on the ACE Market.
In a statement, Enproserve said its initial public offering (IPO) will involve a public issue of 210 million new ordinary shares and the sale of 105 million existing ordinary shares.
Of the 210 million public issue shares, 52.5 million will be allocated to the public through balloting, 18.32 million to eligible directors, employees and stakeholders of Enproserve, and 139.18 million to selected investors via private placement.
The 105 million shares for sale will also be allocated to selected investors.
“Seeking listing on the ACE Market is a natural trajectory for us, paving the way for expanding our operational footprint across Malaysia and enhancing our service offerings to better serve a wider range of clients across the oil and gas value chain,” Enproserve group managing director Azman Yusof said.
The group targets to be listed in the second quarter of 2025.
