The Amendments have been made following changes effected by the Securities Commission to its relevant Guidelines. The Amendments, amongst others, allow MESDAQ Market listed companies to apply for a transfer of their listing to the Main Board.
Selvarany Rasiah, Chief Legal Officer of Bursa Malaysia said that prior to this, MESDAQ Market companies would need to de-list their shares from the MESDAQ Market before applying for a listing and quotation on the Main Board.
"The Amendments to the LR and MMLR facilitate and expedite the process of transferring listing from the MESDAQ Market to the Main Board. Similar to a Second Board listed company, a MESDAQ Market listed company may be considered for a transfer to the Main Board provided it meets the requirements for listing on the Main Board and such other requirements as imposed by Bursa Securities, and prior approval is obtained from the Securities Commission."
Criteria for a transfer includes the number of years the company has been listed on the Second Board or MESDAQ Market, the issued and paid up capital, the shareholding spread, historical profit performance and where applicable, market capitalization.
In addition, further disclosure is required where MESDAQ Market and Second Board listed companies transfer their listing to the Main Board based on market capitalization.
The Amendments take immediate effect. Details on the Amendments and the transfer process are available on Bursa's website www.bursamalaysia.com.
