Selangor Journal
Securities Commission Malaysia building in Kuala Lumpur. — Picture via BERNAMA

SC approves 18 equity applications, achieves RM9.04 bln market cap in 2023

KUALA LUMPUR, March 25 — The Securities Commission Malaysia (SC) has approved 18 equity applications, of which seven were for initial public offering (IPO) on the Main Market of Bursa Malaysia with a total market capitalisation of RM9.04 billion in 2023.

The market regulator said in its Annual Report 2023 released today that an estimated RM2.81 billion of funds were raised from these IPOs.

“The remaining applications approved were 11 transfers of listing from the ACE Market to the Main Market,” it said.

The SC approved 16 equity applications in 2022, with a total of RM3.08 billion raised.

Meanwhile, the SC said there were a total of 32 new listings last year, of which seven were on the Main Market, 24 were on the ACE Market, and the remaining one was on the LEAP Market, with a total market capitalisation of RM13.63 billion.

The total amount of funds raised from these new listings was approximately RM3.58 billion.

In the Malaysian corporate bonds and sukuk market, total issuances of RM118.33 billion in 2023 were reported, representing a 22.82 per cent decrease from RM153.32 billion issued in 2022.

“Ringgit-denominated corporate bonds and sukuk issues continued to form the majority of the proposals approved by or lodged with the SC with a total nominal value of RM171.48 billion, of which 57.30 per cent or RM98.26 billion were sukuk,” it said.

In 2023, the SC said a total of 40 ratings were assigned by credit rating agencies to ringgit-denominated corporate bonds and sukuk issues lodged with the SC, compared to 45 ratings assigned in 2022.

The number of unrated issues has increased by 75 per cent compared to 2022, and there were three foreign currency-denominated corporate bonds and sukuk lodged with the SC in 2023.

— Bernama

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