Bursa Malaysia Appoints IPO Advisers: Listing Targeted For First Quarter 2005

Bursa Malaysia Berhad (“Bursa”) moves closer towards its proposed public listing with the appointment of advisers for its initial public offer (IPO) exercise.

Chief Executive Officer, Yusli Mohamed Yusoff said that the appointment of the IPO advisers has been sanctioned by Bursa’s board of directors.

"We have obtained relevant board approvals for the appointment of the consortium of advisers to assist us with the proposed listing of Bursa Malaysia Berhad. Members of the consortium are:

• Commerce International Merchant Bankers Berhad as the Principal Listing Adviser and Joint Bookrunner.
• UBS Investment Bank as the International Financial Adviser and Joint Bookrunner.
• Messrs Kadir, Andri & Partners as Local Legal Adviser for Bursa.
• Messrs Ernst & Young as Reporting Accountants.
• Clifford Chance Wong Pte Ltd as International Legal Counsel for Bursa.

The advisers, amongst others, will assist Bursa with the review of its business model-benchmarked against its listed peers, best practice disclosure of relevant information in the Offer Document, submission of applications to relevant authorities and placement of shares to both domestic and institutional investors. The advisers will also be assisting Bursa in coming up with an appropriate listing scheme that will benefit the company, employees, shareholders and potential investors.

"We target to be ready to list in the first quarter of next year, of course subject to prevailing market conditions and obtaining the requisite regulatory approvals," Yusli said.