KEY AMENDMENTS TO THE ACE MARKET AND MAIN MARKET LISTING REQUIREMENTS EFFECTIVE FROM 1 JANUARY 2022
Effective from 1 January 2022, Bursa Malaysia Securities Berhad (“Bursa Securities”) will be the sole approving authority or one-stop centre for all ACE Market initial public offerings, according to a media release issued jointly by the Securities Commission Malaysia (“SC”) and Bursa Securities on 20 December 2021 (“Joint Media Release”).
This signifies that the prospectus review and registration functions, which were previously undertaken by the SC, is now undertaken by Bursa Securities for the ACE Market. The assumption by Bursa Securities of such functions was made possible via amendments made by the SC to Part III of Schedules 6 and 7 of the Capital Markets and Services Act 2007 in July 2021, in an effort to streamline and consolidate the ACE Market listing process for greater efficiency.
To facilitate the aforementioned changes, the ACE Market Listing Requirements have been amended by Bursa Securities accordingly.
Bursa Securities had also in the Joint Media Release announced that certain amendments have been made to the Main Market Listing Requirements, the amendments of which are effective from 1 January 2022.