PETALING JAYA: Elsa Bhd, an integrated service provider in the oil and gas industry, has received approval from Bursa Malaysia Securities for its proposed listing on the ACE Market.
The group is scheduled to make its market debut in the second quarter of 2026.
“The approval represents a significant milestone in the group’s corporate journey as Elsa prepares to become a publicly listed company, providing the platform to further strengthen our presence as an integrated provider of O&G service solutions”, said managing director Daniel Ilham.
Elsa has established itself as a solutions-driven service provider supporting the oil and gas industry through a combination of specialised oilfield services, advanced robotics technologies, digital solutions, and talent solutions.
The robotics and digital solutions not only support the oil and gas sector but are also increasingly deployed across other industries where automation, safety, and operational efficiency are critical.
The IPO 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.
Chairman Amiruddin Zain said: “The transition to the ACE Market marks a pivotal evolution in Elsa’s corporate history. As the global energy sector increasingly prioritises efficiency and automation, this listing equips us with the financial agility to capture these structural shifts. We are now strategically positioned to elevate our market profile, expand our technological capabilities, and drive sustainable, long-term value for our future shareholders.”
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for Elsa’s proposed listing exercise.
The Sun Malaysia
