<article>Malaysian stock exchange <a href="http://www.bursamalaysia.com/market/">Bursa Malaysia Bhd</a> expects the 2015 initial public offering (IPO) market to be tepid, not outperforming the slow market last year, a top executive said.</article>

Malaysian stock exchange <a href="http://www.bursamalaysia.com/market/">Bursa Malaysia Bhd</a> expects the 2015 initial public offering (IPO) market to be tepid, not outperforming the slow market last year, a top executive said.
Its chief executive Tajuddin Atan said he expects the slow IPO market trend to be the same this year, if not worse against the backdrop of a volatile global economy.
“The Malaysia market is still trying figure out how things are positioned, as everything will continue to be subject to volatilities,” he said at a press conference announcing the exchange’s 2014 financial results.
“The trend will be a little bit tough in 2015.”
He added that the IPO pipeline was estimated to be about the same as in 2014, where 14 listings took place to raise a total of MYR24.3 billion ($6.7 billion), 7 per cent higher than in 2013.
Funds raised in 2014 from new listings totalled MYR5.9 billion, 28 per cent smaller than the amount raised a year prior.
The secondary market did better, however, with MYR18.4 billion raised, 28.6  per cent higher than in 2013.
In 2013, there were 18 listings raising a total of MYR22.5 billion ($6.2 billion), according to Bursa Malaysia’s data.
Of the new listings, MYR8.2 billion was raised while MYR14.3 billion was raised from the secondary market.
Tajuddin added that the secondary market was still sustainable and strong.
Bursa Malaysia recorded a 57.92 per cent jump in net profit to MYR53.14 million on the back of better revenue, rising 12.77 per cent to MYR128.48 million for the last quarter of the 2014 financial year.
For the full year, the stock exchange’s net profit was up 14.53 per cent at MYR198.23 million while revenue increase by 6.06 per cent to MYR503.76 million. The net profit was the highest recorded since the 2008 financial year.
Earnings per share increased from 32.5 sen to 37.2 sen for the year.
Also read: <a href="http://www.dealstreetasia.com/stories/2015-malaysia-cos-raise-7-14b-ipos/">Malaysia cos to raise $6.64b in IPOs in 2015</a>
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Bursa Malaysia sees slow IPO market in 2015

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