Labuan International Financial Exchange (LFX) today announced that it has revised the entry level for a licensed Listing Sponsor of LFX from the existing Minimum Net Assets of USD2 million to USD100,000.
The revision is aimed to attract greater participation of issuers to LFX. It is envisaged that the revision will encourage more entities to apply for Listing Sponsor license and help to boost activities on LFX. In line with that, the LFX has also undertaken to improve the turnaround time for approval of the listing application within two market days, from the previous seven days.
Dato’ Yusli Mohamed Yusoff, Chief Executive Officer of Bursa Malaysia and Director of LFX said, “We hope these revisions, which will make it easier and faster for issuers to list financial instruments such as bonds or sukuk, will put LFX on a more competitive platform, and attract greater participation from the international investment community.
A Listing Sponsor of LFX is primarily responsible to provide advice, structure and arrange the listing of both conventional and Islamic financial instruments on the LFX and any subsequent post-listing obligations arising from the listings of the instruments. Currently, LFX has six listing sponsors, namely AmInternational (L) Limited, Maybank Investment Bank Berhad, ECM-Libra Investment Bank Berhad, CIMB (L) Limited, Eq Fund Services (Asia) Limited and OSK Investment Bank (L) Limited.