KUALA LUMPUR (Dec 20): Bursa Malaysia (KL:BURSA) saw a total of 55 initial public offerings (IPOs) this year,  up 72% from the 32 IPOs listed last year.

The 55 IPOs were the highest number of listings Bursa has welcomed in the last 19 years, the exchange said in a statement on Friday. Bursa also took top spot among Asean exchanges in terms of the number of IPO listings and total IPO funds raised.

“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,” Bursa chief executive officer Datuk Muhamad Umar Swift said.

Umar noted that investor interest in IPOs was generally good, as evidenced by oversubscription rates and share price appreciation, reflecting confidence in the companies' growth prospects.

Of the 55 IPOs, 11 were Main Market listings (versus seven in 2023) and 40 others were ACE Market listings (versus 24 in 2023). The remaining four IPOs were LEAP Market listings (versus one in 2023).

“The 55 IPOs in 2024 collectively raised RM7.42 billion in proceeds, marking a 107% increase from the previous year, and contributed a total market capitalisation of RM31.37 billion to Bursa based on their IPO prices, a 130% rise compared to 2023," Bursa said.

Meanwhile, the five largest IPOs on Bursa Malaysia collectively contributed RM20.32 billion in market capitalisation to the exchange, based on their IPO prices. The five largest IPOs this year were 99 Speed Mart Retail Holdings Bhd (KL:99SMART), Johor Plantations Group Bhd (KL:JPG), Alpha IVF Group Bhd (KL:ALPHA) and Prolintas Infra Business Trust (KL:PLINTAS).

Bursa chairman Tan Sri Abdul Wahid Omar said achieving 55 IPOs is a testament to the exchange's commitment in fulfilling its role as a key national growth enabler, facilitating capital fundraising for home-grown companies

“Looking ahead, we are committed to sustain the strong IPO momentum as we move into 2025,” he said.

Bursa said the high number of IPOs in 2024 was also due to several key initiatives carried out with the Securities Commission Malaysia, including the three-month approval period for IPOs on the Main and ACE Markets.

The exchange noted that it had also implemented the LEAP Market Transfer Framework to facilitate eligible LEAP Market-listed corporations to graduate to the ACE Market, while widening the definition of sophisticated investors for the LEAP Market to include angel investors, venture capitalists and private equity firms.