KUCHING: Bursa Malaysia Berhad reached a significant achievement in 2024 with a total of 55 Initial Public Offerings (IPOs) being listed on the local bourse this year.
In a statement, it said that this remarkable performance represents a significant 72 per cent increase compared to the 32 IPOs recorded in 2023.
Furthermore, it added, the 55 IPOs marks the highest number of listings Bursa Malaysia has welcomed in the last 19 years.
It pointed out that the strong number of IPOs in 2024 can be attributed to several key initiatives by Bursa Malaysia and the Securities Commission Malaysia (SC).
“These include a commitment to expedite approval for IPOs on the MAIN and ACE Markets, targeting a three month
approval period; widening the definition of sophisticated investors for the LEAP Market to include angel investors, venture capitalists and private equity firms, based on their knowledge and experience; and the LEAP Market Transfer Framework to facilitate eligible LEAP Market Listed corporations to graduate to the ACE Market,” it said.
Commenting on the significant achievement, Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said that this year’s high number of IPOs reflects the continuous efforts by capital market regulators to provide facilitative regulatory frameworks that enhance market competitiveness and relevance.
“Interest from investors in the IPOs, generally good oversubscription rates and share price appreciation demonstrate confidence in the companies’ growth prospects.
“Bursa Malaysia is proud to rank first among ASEAN exchanges year to date, in terms of the number of IPOs recorded and total IPO funds raised,” he said.
Meanwhile, Bursa Malaysia chairman Tan Sri Abdul Wahid Omar commented that achieving 55 IPOs is a testament to Bursa Malaysia’s commitment in fulfilling its role as a key national growth enabler, facilitating capital fundraising for home-grown companies across our MAIN Market, ACE Market and LEAP Market.
“The IPO proceeds enable companies to expand their businesses, grow the economy, generate higher profits, pay dividends to shareholders, contribute tax revenue to the government, and create employment opportunities for Malaysians.
“Looking ahead, we are committed to sustain the strong IPO momentum as we move into 2025,” he said.
