KUALA LUMPUR: Elsa Bhd, an integrated service provider in the oil and gas industry, has received approval from Bursa Malaysia for its listing on the ACE Market.
The group is tentatively scheduled to make its market debut in Q2 of 2026.
“The approval represents a major event 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 biggest part of the funds will be used to grow Elsa’s oilfield services and digital solutions, and then some will be used to improve its robotics and inspection abilities, which includes buying special equipment and technology for better asset inspections 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 listing exercise.
Elsa chairman Amiruddin Zain said the transition to the ACE Market marks a pivotal evolution in the group’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,” he said.