KUALA LUMPUR (July 31): Bursa Malaysia Bhd has maintained its target of having 39 initial public offerings (IPOs) for this year.

Notably, this year's IPO target is the highest since 2006, when there were 40 new listings that year.

In comparison, there were 30 IPOs on the local bourse in 2021 and 35 IPOs in 2022.

Bursa chief executive officer Datuk Muhamad Umar Swift disclosed that there are 23 companies in the pipeline to launch their IPOs in the second half of this year, of which seven are scheduled to be listed on the Main Market, up to two are LEAP Market listings, while the remaining are bound for the ACE Market. He said this at a press conference in conjunction with the exchange’s second-quarter (2QFY2023) results briefing.

In the first seven months of 2023, Bursa saw 21 new listings, of which 14 were on the ACE Market.

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