SC approves more listings last year

  • Business
  • Wednesday, 26 Jan 2011

KUALA LUMPUR: The Malaysian capital market concluded 2010 on a strong note with 29 new listings on Bursa Malaysia compared with 14 in 2009.

The 29 new listings included two real estate investment trusts, the Securities Commission (SC) said in a statement yesterday.

For 2010, SC approved 26 companies for listing on the Main Market compared with 12 in the previous year. Of the 26 companies, 14 have been listed on Bursa.

Fourth-quarter approvals for listings on the Main Market (nine) were more than double those in the third quarter (four) and included the approval for Petronas Chemicals Group Bhd, which raised RM12.8bil from its initial public offering (IPO) in November.

SC received 27 applications in the fourth quarter, of which five were for IPOs with a total potential market capitalisation of about RM1.91bil.

The commission also saw a 145% increase in the number of private debt securities (PDS) applications to 27 in the fourth quarter from 11 in the third quarter.

The total amount of funds approved to be raised from ringgit-denominated PDS issues increased by 71% to RM27.7bil in the fourth quarter from RM16.2bil in the third quarter.

SC sustained its performance standards with 98% of corporate proposals and 99.75% of licensing applications processed within the time charters.

A total of 1,345 applications were received for new licences and renewal of licences in the fourth quarter. — Bernama

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