Thursday, October 27, 2011

SC approves PDS plans to raise RM15.9b in 3Q

KUALA LUMPUR: The Securities Commission Malaysia (SC) approved all 15 applications for ringgit-denominated private debt securities (PDS) in the third quarter of 2011.

It said on Thursday, Oct 27 the PDS proposals were to raise a total of RM15.9 billion. These schemes were part of the 23 applications for corporate proposals in 3Q, comprising of eight equity proposals and 15 PDS proposals.

'Out of the eight applications for equity proposals considered, three were approved (consisting of two IPOs and one share offering) while five were rejected owing to non-compliance with the SC's Equity Guidelines (consisting of three IPOs, one restructuring proposal and one proposed transfer from the ACE Market to the Main Market),' it said.

The SC said the two IPOs approved during in 3Q would have a combined potential market capitalisation of RM190.10 million and would raise RM59.03 million.


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