PROFESSIONALS APPOINTMENT

The company will need to identify and appoint its Principal Adviser or Sponsor or Approved Adviser to be the lead adviser. As a lead adviser, they will assist in the selection of various relevant experts and professionals, and the formation of a due diligence working group (DDWG) to take part in the listing process.

ORGANIZATIONAL CHANGES

The lead adviser will help assess the company's position by focusing on the corporate structure, BOD compositions and corporate governance. Certain changes will have to take place in accordance to the listing requirements. For instance, Main Market and ACE Market listing requires the appointment of at least two independent directors or one-third of the Board members, whichever is higher.

LISTING AND VALUATION METHOD

Together with the lead adviser, the company will have to decide on a suitable equity structure and the method of offering that are in line with the company's objective. The valuation of the company will not rely solely on the past and future income, but also by the existing market condition. For instance, a company with the intention to get listed without having to raise additional funds can be listed by way of introduction.

DOCUMENTS PREPARATION AND SUBMISSION

For the preparation of the listing application and disclosure documents (i.e., Prospectus), the leading advisers will gather detailed and concise information of the company. All directors, senior management and any relevant parties are required to make written declarations. Inquiries will also be forwarded by the advisers before the application is submitted to ensure that all information is true, accurate and not misleading.

POST-SUBMISSION AND REVIEW

After submission of documents, a company listed in either the Main Market or ACE Market will go through an exposure period (fifteen market days) on the SCM's website for public feedback. In the meantime, the senior management team along with the lead advisers will have to be prepared for a site visit attended by the regulators for enquiries. Certain amendments in the Prospectus are commonly done during this stage. For a company listed in the LEAP Market, a copy of lodged information Memorandum will form part of the submission documents.

APPROVAL

Main Market listing application: Letter of approval for the IPO and an approval-in-principle for the Prospectus registration by the SCM.

ACE Market listing application: Letter of approval for the IPO issued by Bursa Malaysia and an approval-in-principle for the Prospectus registration by the SCM.

LEAP Market listing application: Letter of approval for the IPO issued by Bursa Malaysia.

POST-APPROVAL IMPLEMENTATION

Main Market and ACE Market listing:

1. Update and register the Prospectus

2. Prepare for the signing of an underwriting agreement between adviser and the company.

3. Conduct roadshows and investor briefings to start promoting and selling the IPO shares.

4. Launch the Prospectus to invite the public to subscribe to the IPO shares.

5. Commence the balloting process after the offer period ends in the event IPO shares are over-subscribed by the public.

LEAP Market listing:

1. To secure and conclude the subscription of the company’s IPO shares from the potential Sophisticated Investors, which commonly are done via a private placement exercise.

LISTING

Listing ceremony by Bursa Malaysia will mark the company's IPO. The company's IPO will be traded on that day.