IPO Performance Report - First Quarter of 2023

10 companies were listed in the first quarter of 2023 (1Q2023), with a combined market capitalisation of RM3.51 billion and raised RM1,000.12 million via new issue, offer for sale and pre-listing fund raised. New listings in the 1Q2023 comprise 2 companies on the Main Market, 7 companies on the ACE Market and 1 company on the LEAP Market. 

• Industrial products and services sector led in terms of number of listings. 4 out of the 10 companies listed were from the said sector. These include 2 electronics manufacturing services (EMS) providers - Cape EMS Berhad (Main) and NationGate Holdings Bhd (ACE), which were valued at close to RM831 million and RM788 million, respectively, at the time of listing. 
• Malaysia's first listed integrated circuits (IC) design house - Oppstar Berhad debut on the ACE Market on 15 March with an IPO market capitalisation of RM401 million. The IC and turnkey solutions provider closed at 286% premium over its list price on the first day, making it the best performing IPO YTD. 
• Former LEAP counter TT Vision Holdings Berhad saw its shares oversubscribed by 89.15x for its public portion and gained 276% at the close of its first trading day. The Khazanah-backed machine vision equipment manufacturer for the semiconductor industry, debut on the ACE Market on 18 January after a voluntary withdrawal of listing from the LEAP Market back in May 2022.