[ As at 1 April 2015]​

BURSA MALAYSIA SECURITIES BERHAD

PRACTICE NOTE 24
LISTING PROCEDURES FOR FOREIGN LISTING

 

DetailsCross References
Effective date:3 August 2009Paragraphs 4A.06 and 4A.20
Revision date:

25 March 2013,

1 April 2015

 

1.0Introduction
​​1.1This Practice Note sets out the following requirements in relation to a foreign corporation, foreign collective investment scheme seeking a primary listing and a corporation, collective investment scheme seeking a secondary listing, on the Main Market under paragraphs 4A.06 and 4A.20 respectively:
(a)the procedures for admission;
(b)the listing and quotation application (where applicable) forms and supporting documents;
(c)the undertakings and confirmation by an applicant and its directors; and
(d)other relevant requirements.
PART I​​LISTING APPLICATION FOR A PRIMARY LISTING
​​2.0Procedure relating to admission
2.1The procedures relating to admission set out in paragraph 2.0 of Practice Note 21 apply to an application for a primary listing on the Main Market.
3.0Listing application form and supporting documents
​​3.1An applicant seeking a primary listing on the Main Market must file with the Exchange a listing application which consists of the following:
(a)the application, in the form of Part A of Annexure PN21-A.pdf, Part A of Annexure PN23-A.pdf or Part A of Annexure PN23-E.pdf, as the case may be; and
(b)the supporting documents specified in Part B of Annexure PN21-A.pdf, Part B of Annexure PN23-A.pdf or Part B of Annexure PN23-E.pdf, as the case may be, and Part B of Annexure PN24-A.pdf.
4.0Undertakings and confirmation
​​4.1An applicant seeking a primary listing on the Main Market must give the Exchange an undertaking in the form of Annexure PN21-B.pdfAnnexure PN23-B.pdf or Annexure PN23-F.pdf, as the case may be.
4.2An applicant seeking a primary listing on the Main Market must ensure that -
(a)every one of its directors gives the Exchange an undertaking in the form of  Annexure PN21-C.pdfAnnexure PN23-C.pdf or Annexure PN23-G.pdf, as the case may be; and
(b)every director who is or has been appointed as an independent director gives the Exchange a letter in the form of Annexure PN21-D.pdfAnnexure PN23-D.pdf or Annexure PN23-H.pdf, as the case may be.
PART IILISTING APPLICATION FOR A SECONDARY LISTING
5.0Procedures relating to admission
5.1The following procedures apply to the admission of an applicant seeking a secondary listing on the Main Market, with the necessary modifications, as may be applicable:
(a)an applicant submits an application to the relevant authorities at the place of incorporation and other stock exchange(s) ("Relevant Authorities") and the SC, if required under the applicable laws and rules;
(b)the Relevant Authorities and the SC approve the listing;
(c)the applicant files with the Exchange its articles of association together with a letter of compliance accompanied by a checklist showing compliance;
(d)the applicant files the final copy of the prospectus with the Relevant Authorities;
(e)the applicant -
(i)issues the prospectus and the offer period opens, if the listing entails an offer of securities to the public;
(ii)advertises the prospectus; and
(iii)provides the Exchange with such number of copies of the printed prospectus as may be determined by the Exchange from time to time.
(f)the applicant files with the Exchange a listing application together with supporting documents;
(g)Exchange grants approval-in-principle for the admission of securities;
(h)if the listing entails an offer of securities, the applicant announces the level of subscription and the basis of allocation;
(i)the applicant issues securities and notices of allotment;
(j)the applicant files with the Exchange a quotation application together with supporting documents; and
(k)securities are admitted to the Official List and quoted on the Exchange 2 clear market days after receipt of the quotation application together with the requisite documents and confirmations and the same have been found to be complete in all respects.
6.0Listing and quotation application
6.1An applicant must file with the Exchange a listing application which consists of the following:
(a)the application, in the form of Part A of Annexure PN24-A.pdf, duly signed by the applicant; and
(b)the supporting documents specified in Part B of Annexure PN24-A.pdf.
6.2An applicant must also file with the Exchange a quotation application which is accompanied by -
(a)the documents specified in Part C of  Annexure PN24-A.pdf; and
(b)a confirmation that there are no circumstances or facts which have the effect of preventing or prohibiting the issuance, listing and/or quotation of the securities including any order, injunction or any other directive issued by any court of law.
7.0Undertakings and confirmation
7.1An applicant must give the Exchange an undertaking in the form of Annexure PN21-B.pdfAnnexure PN23-B.pdf or Annexure PN23-F.pdf, as the case may be.
7.2An applicant must ensure that every one of its directors gives the Exchange an undertaking in the form of Annexure PN21-C.pdf, Annexure PN23-C.pdf or Annexure PN23-G.pdf, as the case may be.
8.0Notification/Advertisement of securities prescribed by the Exchange to be deposited with the Depository
8.1An applicant must comply with paragraph 5.0 of Practice Note 21 in relation to the prescription and depositing of the securities of an applicant, as if the applicant were the applicant mentioned in that paragraph 5.0.
9.0Listing of issued and unissued securities
9.1An applicant must apply for approval-in-principle 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.
9.2If an additional unissued amount is reserved for subsequent issuance for a specific purpose, an applicant must apply for an approval-in-principle to add that amount to the Official List in the future for that specific purpose.
9.3An applicant must not apply for an approval-in-principle for the listing of any security which is not reserved for subsequent issuance for a specific purpose.
9.4An applicant must submit an application for quotation for such reserved amount for which approval-in-principle has been granted pursuant to subparagraph 9.1 above, upon actual issuance of such amount in accordance with the provisions of Practice Note 25.
10.0Classification of an applicant of secondary listing
Paragraph 7.0 of Practice Note 21 applies to an applicant seeking for secondary listing on the Main Market, with the necessary modifications.

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Annexure PN24-A.pdf