IPO target out of reach with tepid Malaysian market
Prospective offerors put off plans to list, deeming investor appetite too weak and market sentiment too negative
Singapore
IN an unusually poor year for initial public offerings, funds raised via public share sales on Bursa Malaysia are set to fall far short of the RM13 billion (S$4.2 billion) target - or even the RM5.9 billion raised last year - as prospective offerors gauge market appetite to be too weak.
With only two months to the year left, the total raised is likely to be only about a third of the target despite initial optimism that companies including state-owned power operator Edra Global Energy would keep the IPO market vibrant. Edra was expected to raise some US$3 billion in its public share sale.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Dasin Retail Trust trustee-manager chairman, directors deny allegations of misconduct
Microsoft adds security chiefs to product groups in wake of hacking woes
Singapore shares climb at Friday’s open; STI up 0.2%
A timeline of DBS’ recent banking glitches
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Elite Commercial Reit’s Q1 DPU down 21.2% to £0.0067