Enest Group Berhad has received approval from the Securities Commission Malaysia for its proposed transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad, subject to Bumiputera equity participation conditions.
The approval, conveyed via a letter dated March 18 and received on March 19, relates to the company’s resultant equity structure under the proposed ACE Market listing.
As part of the approval, Enest is required to:
Allocate shares equivalent to 12.5% of its enlarged issued share capital upon listing to Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
Ensure at least 50% of the shares offered to Malaysian public investors are made available to Bumiputera public investors via balloting.
The company had previously made several announcements on the proposed transfer listing since August 2024 and said further updates will be provided as material developments arise.
