KUALA LUMPUR: The Securities Commission (SC) is seeking to introduce a streamlined transfer mechanism that will enable qualifying ACE Market companies to transfer to the Main Market beginning in 2024, says chairman Datuk Seri Dr Awang Adek Hussin.
He said the SC together with Bursa Malaysia is working to improve efficiency in the public markets to facilitate a startup’s initial public offering (IPO), with measures such as reducing time-to-market for companies seeking to list on the stock exchange.
“Details of the proposed automatic transfer framework will be announced later this month. The introduction of a new simplified and accelerated transfer process will facilitate a seamless transfer of listings to promote sizeable and quality ACE Market companies to the Main Market.
“By being in the Main Market, it will open up opportunities for foreign investors to participate. This should encourage greater foreign participation in our capital market,” Awang Adek said in his speech at the Malaysia Venture Forum 2023 yesterday.
He said capital markets played an important role in enabling easier access to funding for startups as well as micro, small and medium enterprises. — Bernama