Placement leeway for listed companies

Chief executive officer Datuk Muhamad Umar Swift (pic) said the stock exchange operator acknowledges the “unprecedented lingering impact of Covid-19” on the listed companies. “It is imperative for listed issuers to be able to raise funds through the secondary market in an expedient, efficient and cost-effective manner during these challenging times,” he said.

PETALING JAYA: The opportunity for listed companies to fundraise by placing out a higher percentage of shares has been extended for 12 months, but this leeway can only be enjoyed by companies that have not raised any funds through the relaxed guidelines since 2020.

Bursa Malaysia announced yesterday that listed companies will have up to Dec 31, 2022 to issue new shares by way of private placement under the increased general mandate of 20%.