Bursa Malaysia on track to meet RM34bil IPO market cap target

KUALA LUMPUR: Bursa Malaysia is set to hit its annual IPO market capitalisation target of RM34 billion, up 24.1 per cent from RM27.4 billion in 2025. According to RHB Research, 11 new listings in Q3 contributed RM28.7 billion to market capitalisation by September. The exchange reported a net profit of RM70.2 million in Q3, resulting in nine-month earnings of RM214.8 million.

This figure accounted for 76 per cent of both RHB Research's and consensus full-year earnings estimates. Operating revenue increased by 20 per cent year-on-year in the first nine months of 2026, propelled by higher securities trading income and non-trading revenue. The surge in trading income was attributed to a rise in securities average daily trading value, while non-trading revenue grew due to increased annual listing fees.

In the future, Bursa plans to present the MY Value Up Programme and a new strategic roadmap for 2027-2030 before year-end. Talks on the proposed Malaysia-Hong Kong capital market collaboration are ongoing, primarily involving Chinese and Hong Kong companies interested in dual-listing and expanding their presence in Malaysia. RHB Research also pointed out the upcoming introduction of 23-hour trading in the US stock market from December 6, which could influence trading patterns and transaction execution in both Malaysia and the US.

However, the impact on domestic trading activity remains uncertain and requires further analysis as new market data becomes available. RHB Research retains a Buy rating on Bursa Malaysia with a target price of RM9.80.