KUALA LUMPUR: A total of 55 initial public offerings (IPOs) have been listed on Bursa Malaysia Bhd so far this year.
In a statement today, the exchange said this represents a significant 72 per cent increase over the 32 listings recorded in 2023.
The 55 IPOs also marks the highest number of listings Bursa Malaysia had welcomed in the last 19 years.
The Main Market recorded 11 listings, a 57 per cent increase from seven in 2023; the ACE Market achieved 40 listings, 67 per cent higher than the 24 listings in 2023.
The LEAP Market saw four listings, marking a 300 per cent increase from a single listing in 2023.
Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said this year's high number of IPOs reflects the continuous efforts by capital market regulators to provide facilitative regulatory frameworks that enhance market competitiveness and relevance.
He noted that 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," he said.
Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said achieving 55 IPOs is a testament to its commitment in fulfilling its role as a key national growth enabler, facilitating capital fundraising for home-grown companies across the Main Market, ACE Market and LEAP Market.
He added that 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 sustain the strong IPO momentum as we move into 2025," he said.
According to Bursa Malaysia, the 55 IPOs in 2024 collectively raised RM7.42 billion in proceeds, marking a 107 per cent increase from the previous year.
They contributed a total market capitalisation of RM31.37 billion to Bursa Malaysia based on their IPO prices, a 130 per cent rise compared to 2023.
The five largest IPOs on Bursa Malaysia collectively contributed RM20.32 billion in market capitalisation to the exchange, based on their IPO prices.