United Asiapac Energy Bhd has signed an underwriting agreement with TA Securities Holdings Bhd for the company’s planned listing on the ACE Market of Bursa Malaysia Securities in the third quarter of 2026 (3Q26).
The specialised well intervention solutions provider will undertake an IPO comprising 139.22 million new ordinary shares. Of the total, TA Securities will underwrite 37.5 million shares, including 27.5 million shares allocated to the Malaysian public and 10 million shares reserved for eligible individuals to the company’s success. The remaining 101.72 million shares will be placed out to selected investors.
United Asiapac provides specialised well intervention services to Malaysia’s upstream oil and gas industry, covering the entire lifecycle of hydrocarbon wells, including fishing services, plug and abandonment, sidetracking and other well integrity solutions.
Managing Director Ahmad Fadzuli Ali said proceeds from the IPO exercise will primarily be used to expand its portfolio of specialised well intervention tools and equipment, recruit engineers to support new service offerings, acquire a new corporate office, repay bank borrowings, fund working capital and defray listing expenses.
TA Securities is acting as the principal advisor, sponsor, underwriter and placement agent for the IPO.
