The Prospectus Guidelines have been amended recently with the amendments to take effect from 1 January 2021. The existing paragraph 1.08(g) of Part III: Procedures for Registration has been amended to clarify that certified true copies of all material contracts, regardless whether the contracts are in the corporation’s ordinary course …
Bursa Malaysia Securities Berhad (“Exchange”) has issued Consultation Paper No. 2/2021 on 3 August 2021 to seek public feedback on the proposed changes to the ACE Market IPO process. The diagram above, as extracted from the Consultation Paper, shows the current ACE Market IPO process and the proposed changes to …
Corporations seeking listing on the Main Market and ACE Market of Bursa Malaysia Securities Berhad are required to allocate certain percentage of shares in their initial public offerings to Bumiputeras. Application of the Bumiputera equity requirements The Bumiputera equity requirements apply only to corporations with Malaysian-based operations seeking listing, namely …
A company which intends to undertake an initial public offering (“IPO”) and list on Bursa Malaysia Securities Berhad (“Applicant Company”) must undertake a due diligence exercise on the Applicant Company and its group of companies (collectively, “Group”). One of the objectives of the due diligence exercise is to ensure any …
Under the Listing Requirements issued by Bursa Malaysia Securities Berhad (“Bursa Securities”), a corporation which intends to be listed on Bursa Securities (“Applicant”) must ensure that at least one third of its board of directors are independent directors. The Malaysian Code on Corporate Governance (“MCCG”) issued by the Securities Commission …
The Prospectus Guidelines (“Guidelines”) are issued by the Securities Commission Malaysia (“SC”) under section 377 of the Capital Markets and Services Act 2007 to set out the additional disclosure requirements in respect of a prospectus and the information to be disclosed in an abridged prospectus. The SC revised the Guidelines …