Securities Commission Malaysia revises Equity Guidelines with new MAIN and ACE Market listing requirements effective 3 June 2026
Companies planning Bursa Malaysia listings must meet higher MAIN and ACE Market requirements ahead of the 3 June 2026 effective date
Change
On 28 May 2026, Securities Commission Malaysia released revised Equity Guidelines introducing new listing requirements for the MAIN and ACE Markets, with the MAIN Market changes taking effect on 3 June 2026.
Why it matters
The revised Guidelines raise the threshold for MAIN Market admission through higher profit requirements and stronger financial reporting quality, while adding flexibility in operating cash flow assessment and broader eligibility for infrastructure-type listings. For the ACE Market, the changes impose a minimum two-financial-year post-listing track record before transfer to the MAIN Market, remove existing exemptions on sponsorship and moratorium, and introduce minimum public share allocation requirements. The MAIN Market proposals take effect on 3 June 2026, so issuers in the listing pipeline must align applications against the revised criteria immediately.
Implications
- — Companies planning MAIN Market IPOs on Bursa Malaysia must reassess eligibility against the higher profit requirements and stronger financial reporting quality standards in the revised Equity Guidelines before filing — applications structured to the prior thresholds may not qualify under the criteria taking effect 3 June 2026.
- — Companies on the ACE Market planning to transfer to the MAIN Market must establish a minimum two-financial-year post-listing track record before applying — transfer applications without the track record will not qualify under the revised Guidelines.
- — Companies pursuing ACE Market listings must meet the new minimum public share allocation requirements and proceed without the removed sponsorship and moratorium exemptions — listing structures that relied on those exemptions are no longer available.
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