KUALA LUMPUR, Dec 20 (Bernama) -- Bursa Malaysia Bhd has made a significant achievement in 2024 with 55 initial public offerings (IPOs) listed on the exchange, the highest number of listings recorded in the last 19 years.
The exchange said the remarkable performance represents a significant 72 per cent increase compared to the 32 IPOs recorded in 2023.
“This underscores Bursa Malaysia’s growing appeal as a strategic partner for companies to raise their profile and seek capital to fuel growth and expansion,” it said in a statement today.
It noted that the 55 IPOs in 2024 collectively raised RM7.42 billion in proceeds, marking a 107 per cent increase from the previous year, while market capitalisation amounted to RM31.37 billion, a 130 per cent rise compared to last year.
Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said 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 noted that 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 sustaining the strong IPO momentum as we move into 2025,” he added.
The exchange said the strong number of IPOs in 2024 can be attributed to several key initiatives by Bursa Malaysia and the Securities Commission Malaysia (SC), which include a commitment to expediting approval for IPOs on the Main and ACE Markets, targeting a three-month approval period.
The initiatives also include 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 also shared that other notable IPO-related highlights in 2024 include significant growth in the number of IPOs across various company sizes and maturities.
The Main Market recorded 11 listings, up 57 per cent from the seven IPOs last year, while the ACE Market achieved 40 listings, a 67 per cent increase compared with 24 listings in 2023.
Meanwhile, the LEAP Market saw four listings, marking a 300 per cent increase from the single listing last year.
“The five largest IPOs on Bursa Malaysia collectively contributed RM20.32 billion in market capitalisation to the exchange, based on their IPO prices,” it added.
-- BERNAMA
