Bursa Malaysia Bhd records a significant increase in IPOs listing for 2024 with a total of 55 companies getting listed on the exchange this year compared to the 32 IPOs recorded in 2023.
Furthermore, the 55 IPOs, a 72% increase, marks the highest number of listings the exchange has welcomed in the last 19 years, underscoring Bursa Malaysia's growing appeal as a strategic partner for companies to raise their profile and seek capital to fuel growth and expansion.
Commenting on the milestone achievement, Bursa Malaysia Chief Executive Officer Datuk Muhamad Umar Swift said the high number of IPOs reflects the continuous efforts by capital market regulators to provide facilitative regulatory frameworks that enhance market competitiveness and relevance. "Interest from investors in the IPOs, generally good oversubscription rates and share price appreciation demonstrate confidence in the companies' growth prospects.
"Bursa Malaysia is proud to rank first among ASEAN exchanges year-to-date, in terms of the number of IPOs recorded and total IPO funds raised," Muhamad Umar said.
Meanwhile, Bursa Malaysia Chairman Tan Sri Abdul Wahid Omar said achieving 55 IPOs is a testament to Bursa Malaysia's commitment to fulfilling its role as a key national growth enabler, facilitating capital fundraising for home-grown companies across its Main Market, ACE Market and LEAP Market.
"The IPO proceeds enable companies to expand their businesses, grow the economy, generate higher profits, pay dividends to shareholders, contribute tax revenue to the government and create employment opportunities for Malaysians.
"Looking ahead, we are committed to sustaining the strong IPO momentum as we move into 2025," Abdul Wahid said.
Other notable IPO-related highlights for 2024 include the significant growth in the number of IPOs in 2024 across various company sizes and maturities where there is a 57% increase in Main Market listings and a 67% and 300% surge for both ACE and LEAP Markets listing.
Meanwhile, the total market capitalisation contributed by the 55 IPOs amounted to RM31.37 billion, an increase of 130% compared to 2023, with the five largest IPOs on Bursa Malaysia collectively contributing RM20.32 billion.
The strong number of IPOs in 2024 can be attributed to several key initiatives by Bursa Malaysia and the Securities Commission Malaysia that include a commitment to expedite approval for IPOs on the Main and ACE Markets, targeting a three-month approval period, widening the definition of sophisticated investors for the LEAP Market to include angel investors, venture capitalists and private equity firms, based on their knowledge and experience, and the LEAP Market Transfer Framework to facilitate eligible LEAP Market-listed corporations to graduate to the ACE Market.
