Introduction

In this blog post, we will be explaining on the ACE market characteristics and its listing requirements. This article is the continuation of the previous blog post, please read MQ Trader – The requirement for issuing IPO (Part 1) for better understanding.

What is ACE Market?

The ACE Market stands for “Access, Certainty, Efficiency” which is used to replace its former name which is MESDAQ (Malaysian Exchange of Securities Dealing and Automated Quotation) market. MESDAQ which consists of mainly technological stocks, was established in 1997 and it is replaced by ACE Market under Bursa Malaysia today.

ACE Market is known to be an ideal market for start-ups and new companies and it is no longer restricted to technological stocks only. As compared to Main market, it is more open to companies form any sector or size, as the requirements for a company to be listed at ACE Market are less stringent.

Generally, ACE Market is an alternative sponsor-driven market designed for companies of all business sectors that have excellent growth potential.

Listing factors for consideration

The sponsor is a key party that can provide reliable and relevant assessment for judging the suitability of the listing applicant to be listed in ACE Market. Bursa Malaysia will also evaluate the listing proposal to determine whether it is against the public interest. The following qualifications can help a Sponsor to identify the suitability of a company to be listed in ACE market:

1. Risk Management

A company whose internal control and risk management systems are in place with the company’s business and growth plans.

2. Good Corporate Governance

A company whose founders, promoters, directors and management team have a good track of record in corporate governance without any conflict of interest with the company.

3. Growth Prospects

A company with its core business and its industry are anticipated to have a high growth potential within the foreseeable future.

4. Responsible Directors

A company which its director are fully aware of and understand their obligation

5. Capable Directors and Management

A company with a leadership team of good standing, high capability to grow the business.

6. Commitment to Compliance

A company with sufficient systems, procedures, policies, controls and resources to be compliance with the relevant rules and regulations

Companies listed on ACE Market are eligible to apply for transferring to the Main Market if they meet the profit track record required for the Main Market in the future.

Market Benchmark

In the next blog post, we will be discussing on how market benchmark affect the listing of companies in both markets. Kindly visit MQ Trader – The requirements for issuing IPO (Part 3) to continue reading this topic.

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Disclaimer

This article does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties in the Internet. We may or may not hold position in the stock covered, or initiate new position in the stock within the next 7 days.

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