SC approves 2 IPO applications

The Securities Commission Malaysia (SC) has approved two initial public offering (IPO) applications to raise a total of RM59.03 million and a combined potential market capitalisation of RM190.1 million in the third quarter of this year.

The SC in a statement today said the two IPOs were among the 23 applications for corporate proposals, of which eight were for equity proposals and 15 for private debt securities (PDS) proposals, considered during the period.

"Of the eight applications for equity proposals considered, three were approved, consisting of two IPOs and one share offering.

"Five, consisting of three IPOs, one restructuring proposal and one proposed transfer from the ACE market to the Main Market proposal, were rejected owing to non-compliance with the SC's Equity Guidelines," it added.

It said all 15 applications for PDS proposals considered were approved with the total amount of funds to be raised at RM15.9 billion.

Meanwhile, it said 20 applications for the establishment of new collective investment schemes, consisting of 13 for unit trust and seven for wholesale funds, were also approved during the period. -- Bernama