Listing procedures
6.3
What is the key difference between the procedures under paragraphs 2.0 and 4.0 of Guidance Note 17?
Pursuant to paragraph 2.0 of Guidance Note 17, the listed corporation is required to submit 2 applications to Bursa Securities for approval –
(a)
Additional Listing Application (“ALA”) - of which the approval from Bursa Securities will be sought for the listing of new securities; and
(b)
Quotation Application – of which listed corporation is required to furnish Bursa Securities with the requisite documents/confirmations to facilitate the listing and quotation of the new securities on Bursa Securities.
However, under paragraph 4.0 of Guidance Note 17, the Quotation Application is merged with the ALA. Hence, only 1 application is required to be submitted to Bursa Securities (“Consolidated Application”). All the requisite documents/confirmations required under the Quotation Application will be procured in the form of undertakings when the listed corporation submits its Consolidated Application.
The procedures under paragraph 4.0 of Guidance Note 17 are similar to paragraph 3.0 of Guidance Note 17 in relation to the listing of bonus issue of securities and convertible securities arising from the bonus issue, which was implemented successfully in April 2007 with the objective of shortening the time to market.