ONG EU JIN PARTNERSHIP ADVISES ELRIDGE ENERGY HOLDINGS BERHAD ON ITS ACE MARKET LISTING
Congratulations to Elridge Energy Holdings Berhad (Elridge Energy) on its successful listing on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Malaysia) on 22 August 2024.
Elridge Energy is principally involved in the manufacturing and trading of biomass fuel products, particularly palm kernel shell (PKS) as well as wood pellets.
Upon listing on the ACE Market of Bursa Malaysia, Elridge Energy will have a market capitalisation of RM580 million based on an issue price of RM0.29 per share and an enlarged share capital of 2 billion shares.
Elridge Energy raised a total of RM101.5 million from the initial public offering and has earmarked about 70% of the proceeds raised for capital expenditure to expand its production capacity to cater for orders from other new and existing customers.
Our firm is proud to have played a part in the listing exercise as the IPO solicitors for Elridge.
Have aspiration to get your company listed? Please contact us at [email protected]
More information on the listing can be found at:
The Edge Malaysia:
https://theedgemalaysia.com/node/723779
The Star:
