KUALA LUMPUR (Feb 18): Kenanga Investment Bank Bhd is collaborating with Petroliam Nasional Bhd (Petronas) to ease and expedite the listing of oil and gas services and equipment (OGSE) vendors on Bursa Securities.

This follows a memorandum of understanding signed between the two parties to collaborate on the implementation of the programme termed “Petronas Lestari: Road to Bursa Programme for the OGSE Sector”, an exchange filing today showed.

Under the programme, both parties aim to “build resilience, [and] improve governance and sustainability of OGSE vendors, through initial public offering.”

Simply put, the programme is meant for vendors who have indicated interest in undertaking an initial public offering (IPO), as the collaboration between Kenanga IB and Petronas serves to ease and expedite IPO candidates’ journey for an eventual listing on the equity market of Bursa Securities.

Under the terms of the MoU, Kenanga IB will conduct initial assessment on the vendors as deemed fit, and according to the standard market practices of evaluating a potential IPO candidate.

Meanwhile, Petronas will serve as a platform for Kenanga IB to connect with vendors for the purpose of promoting their services to the vendors, and to provide reasonable support throughout the IPO preparation process.

The MoU is valid for a period of three years, with an extension option of another two years.