Bursa Malaysia becomes one-stop centre for ACE Market IPOs and prospectus registration

20 January 2022

On 20 December 2021, SC and Bursa Malaysia announced that effective 1 January 2022, Bursa Malaysia will become a one-stop centre for all ACE Market Initial Public Offering (IPOs) approvals. This would include the registration of abridged prospectus for the purpose of secondary fund raising activities via rights issues by corporations listed on the ACE Market. During the transition period, SC will continue to register ACE Market prospectuses that have been submitted to SC before 1 January 2022.

Other enhancements to the ACE Market Listing Requirements aiming to strengthen investor protection are also entailed, including placing greater emphasis on the duty of the sponsor and its key officers in order to ensure the validity, accuracy and completeness of submissions made to Bursa Malaysia and disclosures to the market.

Further, Bursa Malaysia also improved the principal adviser framework under the Main Market Listing Requirements. In particular, significant proposals such as a major disposal will now be subjected to greater supervision and oversight of the recognised principal adviser and its officers.