Page 44 - Introduction To Investment Management

Minimum requirements on operating No minimum requirements on
history, size, and track-record operating history, size, and track-
record
Disallowed offer for sale Allows offer for sale for applicants
with operating profit, subject to
moratorium
Minimum issue price of 50 sen No minimum issue price
Other listing – structured warrants Other listing – not allowed
allowed
Source: Bursa Malaysia

• Moratorium; A temporary delay. An example of a moratorium is a delay in the
payment of debt.

Table 2.7: Primary Listing of Local and Foreign Companies in Bursa Malaysia: based on
Quantitative Criteria

Aspect Main Market ACE Market

Profit Test Uninterrupted profit after tax (“PAT”) of 3 - 5 No minimum operating track record or
full financial years (“FY”), with aggregate of at profit requirement
least RM20 million; and
PAT of at least RM6 million for the most
recent full FY.

Market A total market capitalization of at least -
Capitalization RM500 million upon listing; and
Test Incorporated and generated operating
revenue for at least 1 full FY prior to
submission.

Infrastructure Must have the right to build and operate an -
Project infrastructure project in or outside Malaysia: -
Corporation test with project costs of not less than RM500
million; and
for which a concession or license has been
awarded by a government or a state agency,
in or outside Malaysia, with remaining
concession of license period of at least 15
years.

IPO price Minimum RM0.50 each No minimum
Public Spread At least 25% of the Company's share capital; At least 25% of the Company's share
and capital; and
Minimum of 1,000 public shareholders Minimum of 200 public shareholders
holding not less than 100 shares each. holding not less than 100 shares each

Bumiputera Allocation of 50% of the public spread No requirement upon initial listing.
Equity requirement to Bumiputera investors on best Allocation on best effort basis** of
Requirement effort basis. 12.5% of their enlarged issued and
paid-up share capital to Bumiputera
investors:
within 1 year after achieving Main
Market profit track record or
5 years after being listed on ACE
Market.
Source: Equity Guidelines by Security Commission; Update/Effective 3rd August 2009
Bursa Malaysia Listing Criteria

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