Bursa Malaysia expects 2023 IPO to exceed 2022 record

KUALA LUMPUR – Bursa Malaysia is expected to see more initial public offering (IPO) this year from 2022’s record of 35. 

The exchange’s chief executive officer Datuk Muhamad Umar Swift said the optimism is based on the first Bursa Malaysia listing this year on the ACE Market by L&P Global Bhd on Jan 3, 2023 and the high liquidity in the local market.

At the opening bell, L&P’s share price surged 40 per cent, a premium of 12 sen from its IPO price of 30 sen.

“We have another six listings for the month of January. As we look forward, we are seeing our businesses return to profitability,” he told reporters after the memorandum of agreement (MoA) signing ceremony between Bursa Malaysia and the Department of Statistic Malaysia (DoSM) here today. – Bernama / pic TMR File