OSK Securities Berhad, Alliance Merchant Bank Berhad, Public Merchant Bank Berhad and Southern Investment Bank Berhad were admitted as Advisers and Sponsors for the MESDAQ Market recently.
Deputy President, Strategy and Development, KLSE, Abdul Hamid Sh. Mohamed said there has been a high degree of interest amongst market intermediaries to be involved in the MESDAQ Market.
"The very positive performance of the MESDAQ Market at KLSE to date has spurred the involvement of established market intermediaries in the growth of the market."
"This is a very exciting development indeed, as the expertise and experience of these market intermediaries will further ensure the quality of listings on the MESDAQ Market," he said.
Listing on MESDAQ, the market at KLSE for technology and high growth companies requires issuers to appoint an adviser and a sponsor.
An adviser must be a licensed merchant bank or a universal broker. The adviser is the lead underwriter and manages the Initial Public Offer (IPO) process which include due diligence on the issuer, preparation of prospectus whilst ensuring the issuer complies with all requirements for the listing.
MESDAQ also requires an issuer to appoint a sponsor for 5 years. For the first year upon listing, the adviser must also act as the sponsor. The sponsor will ensure on-going compliance with continuous listing obligations and other relevant legislation whilst acting as co-signatory on all quarterly reports and research reports, submitted to MESDAQ.
"With the new advisers joining the list of MESDAQ registered Advisers, MESDAQ can expect more applications to list in the near future. Currently, there are 6 issuers approved for listing on the MESDAQ Market, with 6 other issues in various stages of approval," Abdul Hamid added.
The 10 MESDAQ Advisers and Sponsors are RHB Sakura Merchant Bankers Berhad, Hwang-DBS Securities Berhad, Arab-Malaysian Merchant Bank Berhad, Aseambankers Malaysia Berhad, K&N Kenanga Berhad, Commerce International Merchant Bankers Berhad and the newly registered OSK Securities Berhad, Alliance Merchant Bank Berhad, Public Merchant Bank Berhad and Southern Investment Bank Berhad.
