Enproserve, KAF Investment sign IPO deal

From left: Mohd Nizam Yaakub, CEO, Enproserve Group; Azman Yusof, group managing director; Datuk Hashim Majid, independent non-executive chairman; Rohaizad Ismail, CEO, KAF Investment Bank; and Azmi Hariss Ibrahim, corporate finance director.

KUALA LUMPUR: Enproserve Group Bhd has signed an underwriting agreement with KAF Investment Bank Bhd for its proposed initial public offering (IPO) en route to its listing on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement yesterday, the mechanical and civil engineering service provider for the oil and gas (O&G) and petrochemical industries said the IPO comprises a public issue of 210 million new ordinary shares and an offer for sale of 105 million existing shares.