PETALING JAYA: The Securities Commission Malaysia (SC) and the Securities and Futures Commission of Hong Kong (SFC) have unveiled simplified regulatory procedures and submission arrangements to facilitate simultaneous listings in Malaysia and Hong Kong.
The single submission arrangement brings into operation the simplified dual initial public offering (IPO) listing framework set out in the memorandum of understanding (MoU) signed by the two regulators on July 23.
Under the arrangement, a company seeking a primary listing on either the Main Board of the Stock Exchange of Hong Kong (SEHK) or the Main Market of Bursa Malaysia must submit only a single listing application with a single listing document, together with a simultaneous secondary listing on the other market.
The SC said this approach is expected to reduce regulatory duplication and compliance costs at the IPO application stage.
SC chairman Datuk Mohammad Faiz Azmi said the operationalisation of this framework reflects the strong regulatory partnership between the SC and the SFC, as well as the regulators’ shared commitment to promoting greater capital market connectivity.
“By streamlining regulatory processes and reducing duplicative submissions, this initiative will enhance access to cross-border fundraising opportunities and broaden investor reach. Connecting Malaysia with Hong Kong, the world’s third largest global financial centre, will further strengthen the attractiveness of both markets as investment destinations,” he said.
Key features of the simplified dual IPO listing framework include a single listing document, allowing applicants to meet the statutory and listing requirements of both markets with one document.
Applicants seeking a simultaneous dual listing in Malaysia and Hong Kong may submit a listing application through a centralised, coordinated submission, removing the burden of separate submissions in both markets.
Further, the SC and the SFC have established dedicated teams and communication channels to serve as direct contact points for applicants and their advisers. This ensures coordinated regulatory oversight, active case management and seamless cross-agency handling throughout the listing process.
The SC, SFC and SEHK have established coordinated review processes to align timelines, minimising duplication and streamlining queries to applicants.
SFC CEO Julia Leung said this timely follow-up to the regulator’s landmark MoU crystallises a shared vision to deepen regional capital market connectivity for mutual prosperity.
“By establishing a clear, accessible pathway and harmonised regulatory processes, we enable businesses in both markets to reach more diverse international investors and deeper pools of capital, while preserving robust investor protection.”
To set out the new arrangement, the SC has published a guidance for listing of Hong Kong companies on the Main Market of Bursa Malaysia, while the SFC has issued a circular on the single submission arrangement for dual listings in Hong Kong and Malaysia.
Applicants may refer to said guidance, circular, as well as the explanatory note on Malaysia-incorporated companies’ compliance with core shareholder protection standards and other matters issued by SEHK and other related guidance materials available on the websites of the SC and the SEHK.
Applicants and their sponsors or advisers are encouraged to consult the SC, SFC or SEHK, as appropriate, before formally submitting a listing application to discuss the proposed transaction structure and indicative timetable.
