Bursa expects IPO boost from energy shift
KUALA LUMPUR: Malaysia's pipeline of initial public offerings (IPOs) is expected to get a boost from firms seeking capital for energy-transition projects as Asia weans itself off fossil fuels, according to the top official at the local bourse.
Some of these are large companies and 'as projects actually come through, where there are sustainable cash flows and generated income, they will be looking at capital markets to IPO,' Datuk Fad'l Mohamed, chief executive officer of Bursa Malaysia, said at the Bloomberg Sustainable Business Summit in Singapore.
There are also enough investors in the market to support demand for sustainable assets, he added.
The local new-share sales market has been gaining traction, with 38 new listings so far this year. Bursa Malaysia is targeting 60 IPOs this year, after reporting 55 debuts last year. — Bloomberg
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