Business

Bursa 2013 listings likely to match this year’s value

KUALA LUMPUR, Nov 22 – Bursa Malaysia has sufficient listings in the pipeline for next year to match the value of listings recorded this year.

Chief executive officer, Datuk Tajuddin Atan, said the local exchange is expected to see more mega initial public offerings (IPOs) next year even though the individual offering volume is not estimated to breach this year’s mega IPOs.

“The pipeline is strong but whether it is big in terms of global will be very relative,” he said, referring to the success of Felda Global Ventures Holdings Bhd and IHH Healthcare Bhd’s listings, which were ranked the world’s second and third largest IPO, respectively.

He told this to reporters at the IPO seminar themed “Stairway to Listing” organised by SME Corp here today.

Tajuddin said so far this year, 15 companies were listed on exchange with a total value of close to RM23 billion, making it the third largest IPO venue of the year.

He said Bursa Malaysia’s success this year was due to the underperforming global exchanges, the government’s economic stimulation initiatives such as the Economic Transformation Programme and Government Transformation Programme, and the growth of local companies, reaping the benefits of the growing economy in Asean.

He said among the 30 FTSE Bursa Malaysia KLCI companies on Bursa Malaysia, 38 per cent of their revenues were contributed by regional operations as they marched towards becoming regional champions. – Bernama

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