The estimated amount of funds raised from these IPOs is RM3.08 billion. The remaining applications approved include two proposed acquisitions resulting in a significant change of business direction or policy and eight transfers of listings from the ACE Market to the Main Market. Securities Commission Malaysia

KUALA LUMPUR: The Securities Commission Malaysia (SC) approved 16 out of 20 equity applications received in 2022, more than the 13 equity applications approved in 2021.

Of the 16, six were for initial public offerings (IPO) on the Main Market of Bursa Malaysia with a total market capitalisation of RM9.44 billion, the market regulator said in its Annual Report 2022 released yesterday.

“The estimated amount of funds raised from these IPOs is RM3.08 billion.

“The remaining applications approved include two proposed acquisitions resulting in a significant change of business direction or policy and eight transfers of listings from the ACE Market to the Main Market,” it said.

The SC said of the total of 27 equity applications for consideration in 2022, 18 were considered, one was withdrawn and one had lapsed as it exceeded the validity period of six months from the date of submission.

Meanwhile, the remaining seven would be considered in 2023.

It said there were 35 new listings in 2022, of which five were on the Main Market, 25 were on the ACE Market and the remaining five were on the LEAP Market with a total market capitalisation of RM11.15 billion.

“The total amount of funds raised from these new listings was approximately RM3.49 billion,” the SC said, adding that it had also registered 34 equity prospectuses, comprising 19 prospectuses for IPOs and 15 abridged prospectuses.

As for corporate bonds and the sukuk market, the SC said total issuances stood at RM153.32 billion in 2022, representing a 34.16 per cent increase from RM114.28 billion issued in 2021.

“In 2022, the SC received 62 lodgements under the Lodge and Launch Framework and approved two applications for issuances of corporate bonds and sukuk, compared to 72 lodgements received and four applications approved in 2021.

“Ringgit-denominated corporate bonds and sukuk issues continued to form the majority of the proposals approved by/lodged with the SC with a total nominal value of RM187.27 billion, of which 78.96 per cent or RM147.87 billion were sukuk,” it added.

The regulator noted that in 2022, a total of 45 ratings were assigned by credit rating agencies to ringgit-denominated corporate bonds and sukuk issues lodged with the SC, compared to 63 ratings assigned in 2021.

“The number of unrated issues has decreased by 27.27 per cent compared with 2021,” it added. — Bernama