IPO Performance Report - Second Quarter of 2024

12 companies were listed in the second quarter of 2024 (2Q2024), with a combined market capitalisation of RM3.3 billion and raised RM873.2 million via new public issue and offer for sale. New listings in the 2Q2024 comprise two companies on the Main Market, eight companies on the ACE Market, and a company on the LEAP Market.

Industrial Products and Services sector continued to lead in terms of number of listings – four out of the 12 companies listed were from the said sector, comprising a company on the Main Market and another three on the Ace Market. Collectively, these four companies raised a total of RM314.8 million with a combined IPO market capitalisation of RM 1.11 billion.

First vegetable wholesaler and distributor listing on Bursa Malaysia – Farm Price Holdings Berhad was listed on the ACE market on 14 May with an IPO capitalisation of RM 108 million. On the first day of trading, the counter opened with one-fold premium from its IPO price of 24 sen.

Agricore CS Holdings Berhad’s shares were oversubscribed by 130.99x – The food ingredient distributor cum producer received 15,304 applications for 1,338,424,600 new shares worth RM669.2 million from the Malaysian public.