Petronas partners investment banks to support OGSE vendors’ participation for IPO

Petronas partners investment banks to support OGSE vendors’ participation for IPO

PETROLIAM Nasional Bhd (Petronas) is collaborating with six investment banks and corporate finance advisors to advise vendors in the oil and gas services and equipment (OGSE) sector who plan to pursue an IPO.

Petronas group procurement VP Liza Mustapha said listing will present opportunities and more benefits for OGSE vendors, especially the ones looking for expansion of their business offerings, including new technologies, digitalisation, diversification and overseas growth.

“By being listed, OGSE vendors would be maintaining high standards of management, implementing good governance and always be on the lookout to expand and grow; all of which would enhance sustainability and resiliency of their businesses.

“Public profile and visibility would also be much elevated once our vendors are listed, enabling further rapid growth in Malaysia and also overseas,” she said in a statement yesterday.

The company handed over the memoranda of understanding (MoUs) at an event to KAF Investment Bank Bhd, Kenanga Investment Bank Bhd, MIDF Amanah Investment Bank Bhd, DWA Advisory Sdn Bhd, MainStreet Advisers Sdn Bhd and Wyncorp Advisory Sdn Bhd.

The MoUs are set to ease OGSE vendors’ selection of advisors who will support them with pre-IPO offerings and IPO advisory for Leading Entrepreneur Accelerator Platform (LEAP), a platform for small and medium enterprises (SMEs) and start-ups to raise capital on Bursa Malaysia.

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