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 LISTING QUESTIONS
  Frequently Asked Questions
  1. Are there any information on the listing requirements and submission process?
  2. Is there any minimum paid up and minimum par value of ordinary shares?
  3. How can we proceed to submit and meet the 3 weeks time frame for approval?
  4. What is the minimum number of shares in terms of % to total holdings to list in LFX?
  5. What are the information and prospectus required for listing application?
  6. Would a company going for listing need a track record?
  7. Are investors supposed to visit LFX's website to download prospectus to read about a company's planned listing?
  8. What are your listing procedures and requirements?
  9. What are the listing criteria for a foreign company who wishes to list on LFX?
  10. Can any company regardless of domicile be listed on the LFX?
  11. What is LFX's definition of "Intellectual properties"?
  12. How does your dual listing work?
  13. Can EuroConvertible bonds which are linked to the mother shares of Malaysian PLCs listed on Bursa be listed on LFX?
  14. Are there any specific formats of prospectus?

 ANSWERS

  1. Are there any information on the listing requirements and submission process?

    LFX is a web based exchange and all relevant information pertaining to the operations of LFX can be found on our website at www.lfx.com.my. However, there may be times that the information required is not available on the website. LFX is constantly updating its website based on feedback received from the public. All listing requirements and submission process information will be duly updated to the website soonest possible.
  1. Is there any minimum paid up and minimum par value of ordinary shares?

    Currently, there are no minimum paid up and par value of ordinary shares imposed. The respective issuance for the listing should not be less than USD2 million for equity, USD50 million for investment funds and USD100 million for debt securities. However, these criteria are only guidelines and non-compliance may not in itself disqualify a particular financial instrument for listing.
  1. How can we proceed to submit and meet the 3 weeks time frame for approval?

Application for listing can be initiated via the @LFX system available on our website, www.lfx.com.my. The 3 weeks time frame mentioned is subject to all documents and information received being complete. Interested parties can always submit all applications via snail mail to our Labuan or KL office.

Furthermore, as a self-regulatory organisation, all decisions are the sole responsibility of LFX. No further approvals or endorsements need to be obtained from other regulators.

  1. What is the minimum number of shares in terms of % to total holdings to list in LFX?

    There is no prescribed minimum in terms of % to total holdings as the minimum number required is a shareholding spread of 250 shareholders for an equity listing. However, these criteria are only guidelines and non-compliance may not in itself disqualify a particular product for listing.
  1. What are the information and prospectus required for listing application?

All application for listing must be done through a listing sponsor. The information required is as follows:

    1. Application letter detailing the amount and description of financial instruments, proposed method of listing and nature of listing.
    2. 2 copies of listing documents viz. full financial prospectus.
    3. audited financial statements of applicant issuer.
    4. any other supporting documents and information relating to the applicant issuer and the financial instruments to be listed.

LFX practices a disclosure-based regime where the onus is on the applicants to furnish us with all necessary information required for a listing. Further details of the information required for a listing application is in the Rules of the Exchange which is available on our website at www.lfx.com.my.

  1. Would a company going for listing need a track record?

Ideally, all companies must be in operations for a minimum of two years before they can be listed on LFX. However, this criteria is only a guideline and non-compliance may not in itself disqualify a particular company from going for listing.

  1. Are investors supposed to visit LFX's website to download prospectus to read about a company's planned listing?

    All information approved by LFX pertaining to a proposed listing exercise must be disseminated to the public. The mode of information dissemination is not specified but the information must be available free of charge and in printed form and in sufficient numbers to satisfy public demand. The information must also be available at the Exchange and at the issuer's registered office. The website is just one mode of information dissemination
  1. What are your listing procedures and requirements?

    In order to be listed, LFX must be satisfied that the financial instruments are suitable for listing. A summary of the Exchange's Rules is available on our website at www.lfx.com.my as a word document.
  1. What are the listing criteria for a foreign company who wishes to list on LFX?

    The LFX listing criteria does not distinguish between a foreign or local company provided their respective country of origin allow for such listing.
  1. Can any company regardless of domicile be listed on the LFX?

    Any company irrespective of domicile can be listed on the LFX and will be subject to LFX's listing criteria. However, local companies listed on MESDAQ or the Bursa can list on LFX provided their new issues are in foreign currency and the approval of the relevant authorities are obtained.
  1. What is LFX's definition of "Intellectual properties"?

    A non-exhaustive list would comprise of franchises, trademarks and/or patents.
  1. How does your dual listing work?

    Financial instruments listed on another Exchange recognised by LFX may seek to apply portions of its issued capital for listing on LFX.
  1. Can EuroConvertible bonds which are linked to the mother shares of Malaysian PLCs listed on Bursa be listed on LFX?

    The approval of the Securities Commission of Malaysia is required for this issue. This is because these bonds are linked to mother shares of PLCs listed on Bursa.

    As there is no restriction on foreign ownership on LFX, this can cause complications in the future if such listings are to materialise. Furthermore, since it involves foreign ownership, the approval of the Foreign Investment Committee (FIC) will also be required.

  1. Are there any specific formats of prospectus?
LFX implements a disclosure based policy where the onus is on the listing sponsor to provide us with as much information as they wish. However, as a guide, all prospectus should address the listing criteria stated, namely the quantitative and qualitative criteria. It is beneficial for the listing sponsors to provide LFX with all the information needed as insufficient information given can result in delays to the listing process.


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