[ACE LR] GUIDANCE NOTE 15 - LISTING PROCEDURES FOR INITIAL ADMISSION

[ As at 13 July 2015 ]

BURSA MALAYSIA SECURITIES BERHAD

GUIDANCE NOTE 15

LISTING PROCEDURES FOR INITIAL ADMISSION

Details

Cross References

Effective date:

3 August 2009

Rules 3.02, 5.02, 8.18 and 15.03

Revision date:

22 September 2011,

3 January 2012,

1 April 2015, 13 July 2015

1.0	Introduction

1.1	This Guidance Note sets out the following requirements in relation to an application for admission under Rule 3.02 of the Listing Requirements:

	(a)	the procedures for admission;

	(b)	the listing application form and supporting documents; and

	(c)	the undertakings and confirmation by an applicant and its directors; and

	(d)	other relevant requirements.

1.2	The requirements set out in this Guidance Note also apply to a listed corporation that undertakes a corporate proposal which will result in a significant change in the business direction or policy of a listed corporation. However, when such a listed corporation issues new securities, the listed corporation must also comply with the requirements under Guidance Note 17, where applicable.

2.0	Procedures relating to admission

2.1	The following procedures apply to the admission of an applicant to the Official List, with the necessary modifications, as may be applicable: *^{FAQ 3.1, FAQ 3.5, FAQ 3.6, FAQ 3.7}*

	(a)	applicant files with the Exchange a listing application together with supporting documents;

	(b)	applicant files the final copy of its prospectus with the relevant authorities;

	(c)	Exchange grants approval for the admission of securities;

	(d)	applicant -

		(i)	issues its prospectus and the offer period opens, if the listing entails an offer of securities to the public;

		(ii)	advertises its prospectus;

		(iii)	provides the Exchange with such number of copies of the printed prospectus as may be determined by the Exchange from time to time; and

		(iv)	announces to the Exchange the indicative timetable of the initial public offering containing the information set out in paragraph 8.1 below;

	(e)	if the listing entails an offer of securities to the public, the applicant announces the level of subscription and the basis of allocation;

	(f)	applicant issues securities and notices of allotment;

	(g)	applicant announces to the Exchange the relevant information in accordance with paragraph 8.2 below; and

	(h)	the securities are admitted to the Official List and quoted on the Exchange.

3.0	Listing application form and supporting documents

3.1	An applicant must file with the Exchange a listing application which consists of the following:

	(a)	an application, in the form of Part A of Annexure GN15-A.pdf; and

	(b)	the supporting documents specified in Part B of Annexure GN15-A.pdf.

4.0	Undertakings and confirmation

4.1	An applicant must give the Exchange an undertaking in the form of Annexure GN15-B.pdf.

4.2	An applicant must ensure that -

	(a)	every one of its directors gives the Exchange an undertaking in the form of Annexure GN15-C.pdf; and

	(b)	every director who is or has been appointed as an independent director gives the Exchange a letter in the form of Annexure GN15-D.pdf.

5.0	Notification/Advertisement of securities prescribed by the Exchange to be deposited with the Depository

5.1	In relation to the prescription by the Exchange of the securities of the applicant to be deposited with the Depository pursuant to section 14 of the Securities Industry (Central Depositories) Act 1991 ("Prescription"), the applicant must submit to the Exchange either one of the following:

	(a)	a written confirmation to the Exchange that the information set out in its register including the addresses of its shareholders are updated and accurate as at a date not more than 14 days before -

		(i)	the issuance date of the prospectus; or

		(ii)	proposed books closing date,

		as the case may be, for purposes of notification to its shareholders of the Prescription; or

	(b)	where the applicant is unable to provide the confirmation set out in sub-paragraph (a) above, payment to the Exchange, as may be prescribed by the Exchange from time to time, for the advertisement charges incurred or to be incurred by the Exchange pursuant to section 14(2) of the Securities Industry (Central Depositories) Act 1991 in relation to the Prescription.

5.2	The applicant must submit the confirmation referred to in paragraph 5.1(a) above 3 clear market days before –

	(a)	the issuance date of the prospectus; or

	(b)	the proposed books closing date,

	as the case may be.

6.0	Listing of issued and unissued securities

6.1	An applicant must apply for approval to list only -

	(a)	that part of the securities which have been issued; and

	(b)	securities to be issued in connection with the listing application.

6.2	If an additional unissued amount is reserved for subsequent issuance for a specific purpose, an applicant must apply for an approval to add that amount to the Official List in the future for that specific purpose.

6.3	An applicant must not apply for an approval for the listing of any security which is not reserved for subsequent issuance for a specific purpose.

6.4	An applicant must submit an application for quotation for such reserved amount for which approval has been granted pursuant to paragraph 6.1(b) above, upon actual issuance of such amount in accordance with the provisions of Chapter 6 of the Listing Requirements.

7.0	Classification of an applicant

7.1	An applicant must propose to the Exchange its classification into any one of the sectors prescribed by the Exchange, in accordance with the criteria prescribed by the Exchange.

7.2	The applicant must furnish to the Exchange a proposal of its classification made in accordance with paragraph 7.1 above in a form prescribed by the Exchange. ^{FAQ 3.8}

7.3	The classification is subject to the approval of the Exchange. The Exchange may in its absolute discretion classify the applicant into such other sector as it deems fit.

8.0	Announcements to the Exchange

8.1	An applicant must announce the indicative timetable of the initial public offering as follows upon the issuance of the prospectus and before the listing date: ^{FAQ 3.7}

	(a)	the opening and closing date of the offer period;

	(b)	the balloting date, if any;

	(c)	the allotment date of the initial public offering securities; and

	(d)	the tentative listing date.

8.2	An applicant must immediately announce the following upon receipt of the relevant confirmation from the Depository that the shares are ready to be credited into the respective securities accounts: ^{FAQ 3.7}

	(a)	actual date of listing;

	(b)	enlarged issued and paid-up capital of the applicant indicating the number of shares and their par value, if any;

	(c)	stock short name, stock code and ISIN code; and

	(d)	sector and market under which the securities will be listed.

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Annexure GN15A.pdf

Annexure GN15B.pdf

Annexure GN15-C.pdf

Annexure GN15-D.pdf

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[ACE LR] GUIDANCE NOTE 15 - LISTING PROCEDURES FOR INITIAL ADMISSION