PETALING JAYA: With only two out of nine listing applications approved in the third quarter, the Securities Commission (SC) is sending out a strong signal about its strictness in vetting companies. “It does seem as if the SC has become more stringent about IPO applications,” said the head of corporate finance at a local investment bank.
However, in a reply to StarBiz, the SC has explained that it has very clear criteria and a stringent process for approving IPO applications to ensure that the regulatory body fully discharge its responsibility for investor protection.