100 Percent IPO Approval Rate in Q4

17 January 2008

The Securities Commission (SC) approved all 12 initial public offering (IPO) proposals that it considered in the final quarter of 2007. This 100 percent approval rate is the highest recorded in any quarter of the past year.
With this final set of quarterly figures, a total of 26 IPOs were approved for 2007, comprising nine for Main Board, 13 for Second Board, and four for MESDAQ Market respectively.

On the whole, a year-on-year comparison showed that there was a marked increase in the number of corporate proposals approved by the SC, 368 in 2007 as compared to 292 in 2006.

2007 was an active year for capital-raising with the number of approvals for such proposals escalating by nearly 60 percent from 2006, attributable to the robust market performance last year as reflected in the KLCI and total market value of companies listed on the stock exchange.

The SC maintained its strong performance standards with 97 percent of licensing applications and 96 percent corporate proposals processed within the time charters.

The SC’s licensing statistics showed that the number of capital market intermediaries continued to grow steadily with a total of 172 and 11 newly-licensed representatives and intermediary companies, respectively, entering the industry in the last three months of 2007.

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 2007 were also reported.

The full series of capital market statistics released by the SC is available here.


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