'We understand that some may be adjusting their timelines for now,' says Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar. (Photos by Sam Fong/The Edge)
KUALA LUMPUR (April 14): Bursa Malaysia Bhd (KL:BURSA) said on Monday some companies have decided to postpone their listing amid market turmoil caused by US trade policy changes.
“We understand that some may be adjusting their timelines for now,” said Bursa chairman Tan Sri Abdul Wahid Omar. However, companies will proceed with their initial public offering (IPO) in the coming months as market conditions stabilise with greater clarity on external picture, he said.
Abdul Wahid was speaking to reporters on the sidelines of the Bursa Malaysia-ECKL-CIMB Roundtable on “Global Headwinds vs Domestic Resilience: Refreshed Outlook 2025" here on Monday.
On Monday, Bloomberg reported that advisers of South Korea’s OCI Holdings Co have paused work on the potential IPO of the Malaysian polysilicon business amid volatility in global stock markets. OCI said it has yet to make a final decision on the listing, a company spokesperson told Bloomberg.
The remarks also follows Cuckoo International (MAL) Bhd’s announcement last week to postpone their listings by two months amid market uncertainty. Cuckoo International have begun taking orders from investors and have offered to refund investors who seek to withdraw from the IPO.
The exchange nevertheless is still confident of its target this year to host 60 IPOs with a combined market capitalisation of RM40.2 billion, Abdul Wahid said on Monday.
Global markets, including Malaysia’s, have swung wildly along with US’ flip-flops on its tariff plans and the lingering uncertainties, rattling both investors and companies scrambling to deal with erratic policies.
Upcoming listings on Bursa include MSB Global Group Bhd on Tuesday, April 15, and WTEC Group Bhd on April 29. Reach Ten Holdings Bhd is scheduled to list on May 2, followed by West River Bhd on May 5, and Fibromat (M) Bhd on May 8.
Last year, Bursa saw 55 IPOs — a 72% jump from 32 listings in 2023 — marking the highest number of new listings in two decades. The 2024 IPO of 99 Speed Mart Retail Holdings Bhd (KL:99SMART) was the largest in eight years and the biggest retail IPO in Asean since 2020.
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