With a Success 86% Rate, Did You Participate in the 2024 IPOs? | 2024 Bursa IPO Recap

Moomoo IPO Hub joined discussion · Dec 20, 2024 17:23

As 2024 draws to a close, Malaysia's IPO market has experienced an exceptionally vibrant year. According to data from Bursa Malaysia, a total of 55 companies have gone public in 2024, marking the highest level in over a decade. This represents a staggering 71% increase in the number of IPOs compared to the previous year.

The majority of these listings, 40 in total, have been through the ACE Market. This represents the largest number of IPOs since its inception in 2009. Overall, the performance of Malaysia's three major markets has outperformed that of the previous year.

In 2024, a combined total of 51 companies went public on both the ACE Market and the Main Market, with stocks of 44 of these companies experiencing gains on their first day of trading. This indicates a 86% success rate for investors participating in new share subscriptions, a remarkably high probability of earning returns.

With a Success 86% Rate, Did You Participate in the 2024 IPOs? | 2024 Bursa IPO Recap

In reviewing the stellar performance of companies that went public in 2024, UUE Holdings Bhd $UUE (0310.MY)$ stands out with the most impressive first-day surge, skyrocketing by 189.6% and setting a new record for the largest IPO daily increase of the year. This company, specializing in underground utility construction solutions and pipeline laying, has clearly taken the market by storm. Close behind, Ocean Fresh Berhad $OFB (0312.MY)$ and Go Hub Capital Bhd $GOHUB (0311.MY)$ . secured the second and third positions, both boasting a remarkable increase of over 170% on their debut day.

Go Hub Capital Bhd, which specializes in corporate IT services, particularly excels in delivering transportation IT solutions for the railway sector. Meanwhile, Ocean Fresh Berhad shines as a comprehensive entity in the frozen seafood industry, operating as a processor, exporter, wholesaler, and retailer of high-quality seafood products.

Among this year's newly listed stocks, Go Hub and UUE Holdings not only made a significant impact on their debut day but have also maintained leading positions in post-IPO performance. In the year-to-date gain rankings for new listings, they have secured the first and second spots with remarkable gains of 282.9% and 243.8%, respectively.

Continuing the trend set by Go Hub and UUE , $MTEC (0295.MY)$ , with its focus on the manufacturing and sales of power cables, has also demonstrated exceptional post-IPO success. It has seen a substantial increase of 215.4% since its initial public offering, earning it the third position among the year's most successful new listings.

Malaysia's IPO market thrives amid positive economic signs and political stability, with foreign investors driving oversubscriptions on Bursa Malaysia. As the country stabilizes, its economy should gain from strong momentum, making Bursa Malaysia a promising venue for regional listings due to keen interest and high valuations.

Here are the upcoming IPO plans on Bursa Malaysia: