Advancecon’s delayed IPO
Main Market-bound Advancecon Holdings Bhd’s postponement of its listing does not bode well for the market. The postponement came after it was given the green light by the authorities to list and just before the company issued its prospectus. The reason cited was due to outstanding queries from the Securities Commission. To be sure, these situations are rare. But the question is, why did these new issues crop up after all parties had sufficient time during the initial public offering (IPO) application process to verify all the information? And more importantly, what is the issue that is the subject of the regulator’s query?