Kuala Lumpur, 22 January 2010
Higher interest in Initial Public Offerings in Q4 2009
The Securities Commission Malaysia (SC) received 14 Initial Public Offering (IPO) applications in the fourth quarter of 2009, up 75% from eight IPO applications in the third quarter, reflecting higher interest in equity fund raising by local and foreign companies.
This brought the number of IPO applications for the whole of 2009 to 35, up from 23 in 2008.
Of the 35 IPO applications, the SC approved 12 applications and rejected two. Eight of the 12 companies have been listed on Bursa Malaysia. They include Maxis Berhad, which had successfully raised RM11.2 billion from the market, making it one of the largest IPOs in 2009 globally in terms of funds raised.
The SC maintained its strong performance standards with 100% of corporate proposals and 98.6% of licensing applications processed within the time charters. A total of 1,612 applications were received for new licences and renewal of licences in the fourth quarter of 2009, the highest number for the year.
Capital market statistics released by the SC cover information on processing, approvals and rejections of submissions, including timing and reasons. In addition to these scorecard indicators, the quarterly statistics of submissions approved by the SC for the fourth quarter of 2009 were also reported.
SECURITIES COMMISSION MALAYSIA