PETALING JAYA: Elsa Bhd has received approval from Bursa Malaysia for its proposed listing on the ACE Market of Bursa Malaysia.
In a statement, the oil and gas (O&G) integrated service provider said it is tentatively scheduled to make its market debut in the second quarter of 2026.
Managing director Daniel Ilham said the approval represents a significant milestone in the group’s corporate journey.
Elsa said the initial public offering proceeds will be directed across three areas.
“The largest allocation supports the expansion of Elsa's oilfield service solution and digital solution segments, followed by an allocation towards enhancing its robotics and inspection capabilities, including the acquisition of specialised equipment and technology that enables more efficient asset inspection for upstream clients.
“The remainder provides working capital headroom to execute contracts as the pipeline expands.”
Malacca Securities Sdn Bhd acts as principal adviser, sponsor, underwriter, and placement agent for the proposed listing exercise.
