Kuala lumpur: Initial public offerings (IPOs) on Bursa Malaysia have shown strong performance this year, with expectations that the number of listings will reach 60 companies, according to BERNAMA News Agency. Finance Minister II Datuk Seri Amir Hamzah Azizan expressed optimism, noting that this year’s IPO count is projected to exceed last year’s total of 55.

According to BERNAMA News Agency,”With the 60 listings, we will get close to RM30 billion market capital raised on Bursa Malaysia,” Amir Hamzah stated at a press conference following Orkim Bhd’s listing ceremony on the Bursa Malaysia Main Market.

Looking ahead, Amir Hamzah mentioned that the government has proposed a shift in focus for Bursa Malaysia from merely increasing the number of listed companies to emphasizing ‘listing scales.’ This approach aims to attract larger companies to the exchange, thus strengthening the Main Market as the primary focus.

Marine transportation company Orkim made its debut on the Main Market at 92 sen, consistent with its IPO price, with 5.40 million shares traded initially. It ended the day at 93 sen, a one sen increase, with a trading volume of 60.37 million shares. Amir Hamzah remarked that Orkim’s listing, the 58th IPO this year, signals robust investor confidence and opportunities for companies committed to transparency and sustainable growth.

He further highlighted government efforts to stimulate economic growth and support promising Malaysian companies. Through initiatives like the GEAR-uP agenda, the government encourages participation by investing in mid-tier companies with growth potential, including Bumiputera enterprises.

Orkim’s chairman, Datuk Abdul Hamid Sh Mohamed, addressed the company’s stable debut share price, emphasizing a long-term investor perspective and a favorable dividend policy ranging from 50 to 70 percent.

Orkim raised RM92 million through its IPO, aimed at funding fleet expansion and meeting working capital needs. Following this, Ekuiti Nasional Bhd (Ekuinas) anticipates receiving RM828 million in gross proceeds from the IPO and share transfers from Permodalan Nasional Bhd (PNB). PNB and Ekuinas stated that approximately RM350 million will be distributed as dividends to PNB’s unitholders, with the remainder invested in new Bumiputera mid-market ventures to support capital recycling and growth.