IPO and listing process in Malaysia


Todayโ€™s post is on the IPO and listing process for the Main Market and ACE Market of Bursa Malaysia.

The question that founders and promoters frequently ask in an IPO is:

๐˜ž๐˜ฉ๐˜ฆ๐˜ฏ ๐˜ธ๐˜ช๐˜ญ๐˜ญ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ข๐˜ฑ๐˜ฑ๐˜ญ๐˜ช๐˜ค๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ง๐˜ฐ๐˜ณ ๐˜ต๐˜ฉ๐˜ฆ ๐˜๐˜—๐˜– ๐˜ฃ๐˜ฆ ๐˜ด๐˜ถ๐˜ฃ๐˜ฎ๐˜ช๐˜ต๐˜ต๐˜ฆ๐˜ฅ?

Submission sets the IPO process in motion.

The diagram below shows the listing process for the Main Market and ACE Market of Bursa Malaysia.

Most of the work for IPO is done at the pre-submission stage. This is when due diligence is conducted on the applicant company and its group of companies. Any material non-compliance would need to be addressed or resolved prior to submission to regulators.

It is mandatory to consult the Securities Commission Malaysia prior to making an application for IPO and listing on the Main Market. A potential applicant for listing on the ACE Market is strongly encouraged to consult Bursa Malaysia prior to its application for admission to the Official List.

After submission, the next hectic period would be during the query stage when the due diligence working group address queries from regulators.

When the Principal Adviser informs the due diligence working group that approvals have been obtained, you can probably hear a sigh of relief from the management of the applicant company and IPO advisers.

When the applicant company gets listed, that is probably the happiest day during the entire IPO process for everyone involved.

The IPO process could be long and tedious but it is always rewarding when the company gets listed.


First posted on Linkedin on 29 November 2021.

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